Which of the Following Statements About Yearly Renewable Term Insurance

question 55

Multiple Choice

Which of the following statements about yearly renewable term insurance is (are) true?
I.It requires evidence of insurability for renewal.
II.It is most appropriate when an insured needs lifetime protection.

• A)I only
• B)II only
• C)both I and II
• D)neither I nor II

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Definitions:

1980s

A decade marked by significant cultural, political, and technological changes around the world, including the end of the Cold War and the beginning of the personal computing revolution.

Misery Index

An economic indicator created by adding the unemployment rate to the inflation rate, aiming to measure the health of an economy and the well-being of its citizens.

Unemployment

A macroeconomic condition where individuals who are capable of working and are seeking work cannot find employment.

Inflation Rates

The rate expressed in percentage at which the overall price level for goods and services increases, leading to a decline in purchasing power.