IFoA SP2 Practice Questions - IFoA SP2 Life Insurance Specialist Principles Exam

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A without-profits whole life assurance pays a fixed sum assured on death whenever it occurs. Which feature most distinguishes it from a term assurance contract?

It always provides cover for the whole of life, so a claim is certain provided premiums are paid It contains a unit-linked investment account It cannot have a single-premium version It guarantees a maturity value at a fixed term

Correct Answer:

It always provides cover for the whole of life, so a claim is certain provided premiums are paid

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