1. Ann is considering the purchase of a life insurance policy with flexible premium payments and the interest rate credited to the savings is tied to the current market interest rate but a minimum rate is guaranteed. Ann is considering buying
A. Universal life insurance, B. Variable life insurance, C. Whole life insurance, D. Term life insurance
2. Tara purchased a term insurance policy when she had a high life insurance need and limited income. Now Tamara can afford whole life insurance. What term life insurance provision will allow Tamara to switch her term insurance to whole life insurance without having to show that she is still insurable?
A. Tax-free exchange provision, B. Aleatory provision, C. Conversion provision, D. renewal provision
3. Carl would like to pruchase life insurance. He would also like to invest in a mutal fund. An agent told Carl about a form of like insurance in which carl could select where the saving component is guarenteed. This type of insurance is called.
A. Variable life, B. Universal life, C. whole life, D. variable universal life