How Does Whole Life Differ from Universal Life Insurance

question 84

Multiple Choice

How does whole life differ from universal life insurance?

• A)Universal life is similar to whole life except it does not have a guaranteed minimum return.
• B)They are similar except universal life covers all family members.
• C)Universal life serves as an umbrella policy if you are killed in an auto accident.
• D)Whole life must be purchased before the age of 50.

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Definitions:

Collective Well-Being

The overall health, happiness, and prosperity of a group or community, as opposed to just individuals.

Government Sector

Refers to the portion of the economy consisting of government agencies and public services, excluding private companies and businesses.

Economy Sector

Defines one of the broad areas into which the economic activities of a country are divided, such as agriculture, industry, and services.

Customer Responsiveness

An organization's ability to listen, understand, and take appropriate action regarding customer needs and requests promptly.