What is a key advantage of term insurance compared to whole-life insurance? Option: "Guaranteed cash value accumulation", "Greater affordability due to a fixed premium", "More comprehensive coverage benefits", "Higher potential returns on investment"

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What is a key advantage of term insurance compared to whole-life insurance?

"Guaranteed cash value accumulation"

"Greater affordability due to a fixed premium"

"More comprehensive coverage benefits"

"Higher potential returns on investment"

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What is the primary characteristic of term insurance that distinguishes it from whole-life insurance?

"Term insurance offers investment opportunities."

"Term insurance accumulates cash value over time."

"Term insurance provides coverage for a predetermined period."

"Term insurance premiums fluctuate based on market performance."

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Which type of insurance typically has lower and more affordable premiums?

Life insurance

Universal insurance

Variable insurance

Term insurance

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What type of life insurance offers coverage for a specific period and does not include a savings component?

"Whole Life Policy"

"Endowment Plan"

"Money Back Policy"

"Term Insurance"

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What is a key feature of most term insurance plans?

They have a surrender value that can be redeemed.

They have an assured minimum sum that the insurer promises to pay.

They provide coverage for the policyholder's entire life.

They offer guaranteed bonuses and additional benefits.

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What is the primary distinction between term insurance and life insurance?

Term insurance covers only premature death, while life insurance covers both premature death and survival until the policy matures.

Term insurance offers higher premiums compared to life insurance.

Term insurance provides coverage for the entire lifespan, while life insurance covers a specific period.

Term insurance is more flexible than life insurance in terms of coverage options.