What Is the Name of the Insurance Policy That Pays

question 65

Multiple Choice

What is the name of the insurance policy that pays your beneficiary a specific amount of money if you die while covered by the policy, and this coverage is for a set number of years and must be renewed when it expires?

• A) term insurance
• B) fixed premium insurance
• C) cash-value insurance
• D) universal life insurance
• E) none of the above

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Definitions:

Ratio

A statistic specifying the number of items in a class, or the sum of their values on a variable, per unit of some other class; a ratio is a total expressed in relative terms.

Total

The complete amount or sum of parts or units in a collection.

Distribution

In logic, the act of distributing terms across the components of a categorical syllogism; in mathematics, it refers to the distributive property involving multiplication and addition.

Median

A statistic specifying the middle value of the items in a class on a quantitative variable P.