A Policy Provision Ensuring Continued Insurance Coverage for the Insured's

question 43

Multiple Choice

A policy provision ensuring continued insurance coverage for the insured's lifetime as long as the premiums continue to be paid is known as:

• A)a policy exclusion.
• B)co-insurance.
• C)a co-payment.
• D)benefits duration.
• E)renewability.

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Definitions:

Perception

The process by which people select, organize, and interpret information to form a meaningful picture of the world.

Maslow's Hierarchy

A theory in psychology proposed by Abraham Maslow, which outlines a five-tier model of human needs, from basic physiological needs to self-actualization.

Postpurchase Cognitive Dissonance

The psychologically uncomfortable state produced by an inconsistency between beliefs and behaviors that in turn evokes a motivation to reduce the dissonance; buyers’ remorse.

Expensive Pair

Products or items that are costly and often bought together, typically offering complementary benefits or satisfying related needs.