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

Which statement best describes a critical illness (dread disease) policy?

It pays a lump sum on diagnosis of one of a defined list of serious medical conditions It pays only on death within a fixed term It refunds all premiums at maturity regardless of health It pays a regular income only while the policyholder remains unable to work

Correct Answer:

It pays a lump sum on diagnosis of one of a defined list of serious medical conditions

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