Which of the Following Ensures That Your Policy Premiums Will

question 72

Multiple Choice

Which of the following ensures that your policy premiums will be paid if you were to become disabled?

• A) Disability premium waiver.
• B) Value provision.
• C) Convertibility provision.
• D) Guaranteed renewability provision.

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Definitions:

Probability

A measure of the likelihood that an event will occur, quantified as a number between 0 and 1.

Payoff Matrix

A Payoff Matrix is a table that shows the possible outcomes of different strategies in a strategic situation or game.

Probabilities of Occurrence

The likelihood or chance that a specific event will happen within a given set of circumstances.

Dollar Returns

The financial gain or loss on an investment, expressed in terms of the amount of U.S. dollars gained or lost.