Whole life insurance has premiums, at first to build up a reserve when the chances of dying are smaller, than does life insurance.

primary factor for determining premiums for whole life insurance policies is the:

Which of the following statements about the ‘Life Insurance’ section of the lecture material are TRUE:Life insurance policies that bundle a savings product together with death cover in one policy can be a good option for people who would like to make sure that they receive a payout at age 60 whether they live until 80 or die prematurely before the age of 60.Trauma insurance pays a lump-sum amount upon diagnosis of a serious illness, such as cancer. This could be a useful form of insurance if someone has a history of a particular type of cancer in their family.Question 8AnswerNeither of the statements are true (both are false)Only statement 1 is trueOnly statement 2 is trueBoth statements are true (neither are false)

The-------------- is a life insurance product as well as an investment plan which provides life insurance cover against death of the policy holder along with periodic returns as a percentage of sum assured.       term Insurance       Whole Life Policy       Endowment Plans       Money Back Policy

A whole life policy that combines term insurance and investment elements is called:

The amount received after giving up a whole life type of insurance policy is called the: