III IC-104 Practice Questions - III IC-104 Products Of Life Insurance Exam

Which of the following describes the key characteristic of a Term Life Insurance policy?

It provides a maturity benefit if the life assured survives the term. It provides death benefit only if the insured dies during the policy term, with no savings component. It combines both insurance protection and investment in mutual funds. It offers lifelong coverage and pays a lump sum upon retirement.

Correct Answer:

It provides death benefit only if the insured dies during the policy term, with no savings component.

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