LLQP (Life Licence Qualification Program) Practice Exam · Question
What is the primary function of term life insurance?
Term life insurance provides a death benefit only if the insured dies during the specified term of the policy. It does not accumulate cash value.
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Question: What is the primary function of term life insurance?
Answer options: ✅ To provide life insurance coverage for a specific period of time.
- To build a cash value that can be borrowed against.
- To provide a lifetime of coverage with level premiums.
- To offer investment options within the policy.
Correct answer: To provide life insurance coverage for a specific period of time.
Explanation: Term life insurance provides a death benefit only if the insured dies during the specified term of the policy. It does not accumulate cash value.
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- A life insurance policy that offers lifelong coverage, a guaranteed death benefit, and a savings component tha
- Group benefits in Canada commonly include:
- Sarah, a 35-year-old marketing professional in Ontario, purchases a participating whole life insurance policy
- Mark, a 45-year-old business owner in British Columbia, has a Universal Life policy with a Level Cost of Insur
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