Whole Life vs. Term Life Insurance QuizOnline version Whole Life vs. Term Life Insurance Review by Markita Gates 1 What type of policy has an increasing face value? a Level Term b Whole Life c Graded Policies d Renewable & Convertible Term 2 Which policy(s) are permanent insurance? (Check all that apply) Choose one or more answers a Term to 100 b Paid Up at 65 c Senior Whole Life d Level Term 3 Which policy(s) have level premiums? (Check all that apply) Choose one or more answers a Senior Whole Life b Level Term c R & C Term d Decreasing Term 4 Subject to expire. (Check all that apply) Choose one or more answers a Decreasing Term b Level Term c Paid Up at 80 d Term to 100 5 This policy can never be issued as less than $100,000.00 in coverage. a 4 year Renewable and Convertible Term policy b Whole Life Policy c Level Term Policy d Senior Graded Whole Life Policy 6 A special policy provision that expands or limits the policy coverage. a Term Policy b Rating c Riders d Grace Period 7 Whole Life Policies accrue CV. True or False a True b False 8 Term policies have NFO provisions available. True or False a True b False 9 20 year Level Term Policy can be converted to whole life policy without proof of insurability. True or False a True b False 10 A Term Rider can be added to a Whole Life Policy for additional coverage. True or false a True b False
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