Three Major Types of Whole Life Policies Are Available

question 377

Multiple Choice

Three major types of whole life policies are available. Which of the following is/are Not out of those?

• A) Continuous Premium
• B) Limited Premium
• C) Single premium
• D) None of these

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Definitions:

Order For Relief

A court order in bankruptcy proceedings that allows for the commencement of bankruptcy processes and relief for the debtor.

Involuntary Bankruptcy

A legal process initiated by creditors rather than the debtor, where a court is asked to declare a debtor bankrupt and liquidate assets to pay off debt.

Bankruptcy Trustee

An individual appointed by the court to oversee and manage the estate of a debtor in a bankruptcy proceeding, ensuring the fair distribution of assets to creditors.

Debtor

An individual or company that owes money to another entity.