LLQP (Life Licence Qualification Program) Practice Exam · Question
A participating whole life policy is one that:
Participating whole life insurance is eligible to receive non-guaranteed dividends, which represent a share in the profits of the insurer's participating accoun
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Question: A participating whole life policy is one that:
Answer options:
- Allows the policy owner to participate in the company's investment decisions. ✅ Is eligible to receive dividends from the insurer's participating fund.
- Requires the policy owner to participate in a health and wellness program.
- Has premiums that change based on market participation.
Correct answer: Is eligible to receive dividends from the insurer's participating fund.
Explanation: Participating whole life insurance is eligible to receive non-guaranteed dividends, which represent a share in the profits of the insurer's participating account. These dividends can be used in various ways, such as buying additional insurance or reducing premiums.
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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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