If You Have a Renewable Term Policy

question 94

Multiple Choice

If you have a renewable term policy,

• A) You may not purchase insurance once your term ends.
• B) Your premium may increase if you continue it for another term because you will be older.
• C) Your premium will not increase because your policy is renewable.
• D) You can convert your policy to a permanent type at the end of the term.
• E) None of these is correct.

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Definitions:

Hour-long Facial

A skincare treatment lasting approximately 60 minutes, focused on improving the health and appearance of the skin on the face.

Monopolistic Competition

A market structure characterized by many firms selling products that are similar but not identical, allowing for competition on factors other than price.

Pure Competition

A market structure characterized by a large number of sellers offering identical or very similar products, with no single seller able to influence prices.

Break-even Points

The level of production or sales at which total costs equal total revenue, resulting in no net loss or gain.