one of the feature of ''with profit whole life assurance'' is that profit is allocated to the policy?
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Correct Answer: Option B
Explanation:
What is a Whole Life policy? A Whole Life policy will pay out a lump sum benefit when the life assured dies. This type of Whole of Life policy provides cover for the rest of your life.
Whole-of-life policies payout a lump sum when you die, whenever that is. The size of the payout depends on your policy. With some policies, you can stop paying once you reach a certain age, but with others you have to make monthly or annual payments right up until you die.
What is a Whole Life policy? A Whole Life policy will pay out a lump sum benefit when the life assured dies. This type of Whole of Life policy provides cover for the rest of your life.
Whole-of-life policies payout a lump sum when you die, whenever that is. The size of the payout depends on your policy. With some policies, you can stop paying once you reach a certain age, but with others you have to make monthly or annual payments right up until you die.