With Variable Life Insurance, the Term "Variable" Refers to the Variable

question 110

True/False

With variable life insurance, the term "variable" refers to the variable nature of the benefit because premium payments are invested in mutual funds whose return can vary over time.

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Definitions:

Modelling Effect

The process by which individuals learn behaviors, norms, or attitudes by observing the actions of others, often significant in social learning theory.

Vicarious Learning Experience

Learning that occurs by observing the actions and consequences of others' behaviors rather than through direct experience.

Modelling

Tendency for a person to reproduce the actions, attitudes, and emotional responses exhibited by a real-life or symbolic model. Also called observational learning.

Social Loafing

A reduction in individual effort when working on a collective task (one in which our outputs are pooled with those of other group members) compared with working either alone or coactively (our outputs are not pooled).