A Convertible Term Policy Allows the Insured to Convert a Term

question 13

True/False

A convertible term policy allows the insured to convert a term policy into any other type of policy including a different type of term policy.

---

Definitions:

Pollution

The contamination of the environment by harmful or poisonous substances, leading to detrimental effects on living organisms and the natural habitat.

Marginal Benefit

The increase in an individual's or society's well-being from consuming or producing an additional unit of a good or service, emphasizing its incremental aspect.

Emissions Tax

A tax imposed on the emission of pollutants, intended to provide economic incentives for reducing environmental harm.

Pigouvian Subsidy

A financial incentive given by a government to encourage activities that have positive externalities or beneficial effects on society that are not fully compensated in the market.