GK
INSURANCE AWARENESS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Term insurance that covers a specific period of time and which cannot be renewed is called ____
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Straight term
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Subjective Risk
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Straight Life Annuity
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Structured Settlement
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Explanation:
Detailed explanation-1: -While a renewable term life insurance policy allows you to simply extend your current coverage, having a convertible term life insurance policy means that, at any point during your term or before your 70th birthday (whichever comes first), a policyholder may convert term life coverage to whole life coverage.
Detailed explanation-2: -Level Term Plans. The basic and the simple form of term life insurance is termed as a level term plan. Increasing Term Insurance. Decreasing Term Insurance. Return of Premium Term Insurance. Convertible Term Plans.
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