Question 1
Which term length generally has a lower premium: 10 years or 40 years?
Question 2
What can increase the premium rate of Term Life Insurance?
Question 3
What factors affect the premium calculation for Term Life Insurance?
Question 4
Why might a term life insurance policy not pay out if the insured commits suicide?
Question 5
What provision is included in the two-year contestability period?
Question 6
Which of the following methods is NOT used to calculate attained age?
Question 7
How is 'Last Birthday' calculated for determining attained age?
Question 8
How do insurance companies differentiate cost based on attained age?
Question 9
Which policy component describes the age used by the insurance company to set premiums?
Question 10
Which is the cheapest type of insurance according to the notes?
Question 11
What defines Term Life Insurance?
Question 12
What would be the 'Next Birthday' age for someone whose last birthday was 33 at the policy start date?
Question 13
How would Tom's attained age be calculated using the 'Nearest Birthday' method if his policy started on August 12, 2019, and his birthday is November 1, 1985?
Question 14
If someone chooses a Term Life Insurance policy until age 65, what determines the end of the policy?
Question 15
What is the primary benefit of choosing a Term Life Insurance policy when younger?