Question 1012 of 287 · Texas Life, Accident and Health Agent Exam
Which type of term insurance has a death benefit that declines over the policy period?
Exactly one answer is correct.
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Correct answer to question 1012
- A: Decreasing term
Explanation
Decreasing term is often used to cover a mortgage or other debt that is paid down over time, so the face amount falls while the premium stays level. Level term keeps the same benefit throughout.
More questions: Life: Types of Policies
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- 1014With a return of premium term policy, the insurer
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- 1016A renewable term policy allows the insured to
- 1017A convertible term policy lets the owner
- 1018Which annuity pays benefits beginning one year or less after a single lump sum purchase?