According to Statistics Canada, as of July 1, 2012 the Number

question 65

Multiple Choice

According to Statistics Canada, as of July 1, 2012 the number of people 65 plus and older in Canada is approximately _____ million.

• A) 40.3
• B) 13.1
• C) 34.9
• D) 83.7.

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Definitions:

Term Insurance

A type of life insurance policy for which premiums are paid for a specified term and payment is made by the insurer only if the insured dies within the term period.

Cancel Policy

A cancel policy refers to the terms under which an agreement, insurance policy, or service contract can be terminated before its natural expiration date.

Advance Written-notice

A notification given in writing ahead of time, often a requirement in legal and contractual situations.

Incontestability Clause

A provision in a life insurance policy that prevents the insurer from disputing the policy's validity after it has been in force for a certain period, typically two years.