LLQP (Life Licence Qualification Program) Practice Exam · Question
Which of the following permanent life insurance types usually provides the lower premium because it generally does NOT offer a cash surrender value (CSV)?
A T-100 policy is a form of permanent insurance that typically has no cash value, no dividends, and no surrender value; premiums are level to age 100. Universal
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Question: Which of the following permanent life insurance types usually provides the lower premium because it generally does NOT offer a cash surrender value (CSV)?
Answer options:
- Whole Life Insurance
- Universal Life Insurance
- Variable Life Insurance ✅ Term-to-100 (T-100) Insurance
Correct answer: Term-to-100 (T-100) Insurance
Explanation: A T-100 policy is a form of permanent insurance that typically has no cash value, no dividends, and no surrender value; premiums are level to age 100. Universal Life and Whole Life have cash values.
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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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