An Insurance Policy That Allows Both the Premium Amount and the Maturity

question 38

Multiple Choice

An insurance policy that allows both the premium amount and the maturity of the life contract to be changed by the insured is called

• A)term life.
• B)universal life.
• C)whole life.
• D)endowment life.
• E)variable life.

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Definitions:

Strategic Intent

A company's vision of what it wants to achieve in the long term, guiding its goals, actions, and resource allocation.

Intangible

Describes assets or value that cannot be physically touched or seen but have importance or worth, such as intellectual property or brand reputation.

Acquisition

The purchase of one company by another.

Economies Of Scale

The cost advantage that arises with increased output of a product, as the fixed costs are spread out over more units of production.