2 Written questions
2 Multiple choice questions
- The simplest form of life insurance, this policy pays a specific lump sum to beneficiaries upon the death of the insured
- Sometimes called ordinary life; this policy has a fixed guarantee rate as well as a cash value that can be drawn on when the policy matures
1 True/False question
Universal → This policy allows the policy owner to change the death benefit, premium and payment frequency throughout the policy period.