LLQP (Life Licence Qualification Program) Practice Exam · Question
What is the role of Assuris?
Assuris is the not-for-profit organization that provides protection to Canadian policyholders against loss of benefits in the event of the financial failure of
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Question: What is the role of Assuris?
Answer options:
- To provide a government guarantee on all insurance products. ✅ To protect Canadian policyholders if their life and health insurance company fails.
- To handle consumer complaints against insurance agents.
- To set the premium rates for the Canadian insurance industry.
Correct answer: To protect Canadian policyholders if their life and health insurance company fails.
Explanation: Assuris is the not-for-profit organization that provides protection to Canadian policyholders against loss of benefits in the event of the financial failure of a member life and health insurance company.
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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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