LLQP (Life Licence Qualification Program) Practice Exam · Question
Which of the following renewability provisions in a disability income policy offers the greatest protection to the insured?
A non-cancellable and guaranteed renewable policy provides the highest level of protection, as the insurer cannot cancel the policy, increase premiums, or modif
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Question: Which of the following renewability provisions in a disability income policy offers the greatest protection to the insured?
Answer options: ✅ Non-cancellable and guaranteed renewable
- Guaranteed renewable
- Conditionally renewable
- Optionally renewable
Correct answer: Non-cancellable and guaranteed renewable
Explanation: A non-cancellable and guaranteed renewable policy provides the highest level of protection, as the insurer cannot cancel the policy, increase premiums, or modify benefits as long as premiums are paid.
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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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