Which of the following statements is true about periods of coverage and limitations of liability?
A)Life insurance policies promise to pay a specified amount for total expenses during one's lifetime.
B)Health policies typically limit payment to the face amount of the policy.
C)Term life policies often provide coverage for the entire life of the insured.
D)Perpetual policies remain in force until canceled by the insured or the insurer.
E)Liability policies provide coverage up until a specified age.

Question

Quizplus · Accepted Answer

Perpetual policies, unlike term policies, do not have a predetermined end date and remain in force until canceled by either the insured or the insurer. This makes them distinct from other types of insurance policies that may have specific terms or conditions limiting their duration or coverage.

Which of the Following Statements Is True About Periods of Coverage