Life and Health Insurance - Chapter 4 questions and answers 100% verified.

Life and Health Insurance - Chapter 4 questions and answers 100% verified. Industrial Life Insurance - correct s very small face amounts ($). Premiums are paid weekly and collected by debit agents. They were designed for burial coverage. Ordinary Life Insurance - correct answers.Life insurance of commercial companies not issued on the weekly premium basis. It is made up of several types of individual life insurance, such as temp (term), permanent (whole) Group Life Insurance - correct ance written for members of a group, such as an employer-employee group, association, union or creditor-debtor group. Coverage is provided to the members of the group under one master contract. The group is underwritten as a whole, not on each individual member. One benefit is usually there is no evidence of insurability required. Term Life Insurance - correct answers.Gives you the greatest amount of coverage for a limited period of time. Term insurance is only good for a limited period of time because it has a terminated Date. Term life insurance is an inexpensive type of insurance, making it an attractive option for large policies. Term life is the CHEAPEST type of pure life insurance, and due to having a termination date and not having any cash value, it will ALWAYS be cheaper than a whole life policy with the same face value. It provides a pure death protection since it only pays a death benefit if the insured dies during the policy term. Level Term - correct