IC38 LIFE INSURANCE AGENT EXAM - Study Notes
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- Mortgage Redemption Insurance (MRI) - Financial protection for home loan borrowers. A decreasing term life insurance policy taken by a mortgagor to repay the balance on a mortgage loan if he / she dies before its full repayment
- Increasing term assurance - the plan provides a death benefit, which increases along with the term of the policy.
- Term insurance with return of premiums - Premiums paid will be repaid if the policy holder survives the term
- Term Assurance - Click
here for Video - Whole Life Insurance - There is no fixed term of cover but the insurer offers to pay the agreed upon death benefit when the insured dies, no matter whenever the death might occur
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