More Than One-Half of All Whole Life Policies Lapse Within

question 73

True/False

More than one-half of all whole life policies lapse within ten years of being issued.

---

Definitions:

Fundamental Attribution Error

The tendency to overemphasize personality-based explanations for behaviors observed in others while underemphasizing the role and power of situational influences.

Clumsy Person

An individual frequently making awkward movements or having accidents due to poor coordination or lack of physical skill.

Self-Serving Bias

The tendency to take credit for one’s successes and to deny responsibility for one’s failures.

False Consensus Effect

Observers’ overestimation of the degree to which everybody else thinks or acts the way they do.