If You Have a Conversion Term Policy

question 21

Multiple Choice

If you have a conversion term policy,

• A) Your premium will not increase when you renew it.
• B) You can convert your policy from permanent to term at any time.
• C) You can convert your term policy to a permanent policy.
• D) Your policy will have the same premium as other term policies.
• E) Your benefit to your beneficiary will be less as time passes.

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Definitions:

Generation Z

The demographic cohort following Millennials, typically defined as those born from the mid-1990s to the early 2010s, noted for their digital savviness and diverse values.

Demand Matches Capacity

A situation in which the demand for a product or service equals the supplier's capacity to produce or provide it, leading to optimal operational efficiency and customer satisfaction.

Service Organizations

Businesses that provide intangible products or services to customers instead of selling physical goods.

Availability

The state of being easily obtainable or accessible, often used in reference to goods, services, or information.