Arkansas Life and Health Insurance Practice Exam

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What is a common characteristic of a term life insurance policy?

  1. Accumulation Cash Value

  2. Coverage for a specific period

  3. Guaranteed Renewable

  4. Investment Feature

The correct answer is: Accumulation Cash Value

A common characteristic of a term life insurance policy is that it provides coverage for a specific period of time. Term life insurance does not accumulate cash value or have an investment feature like whole life insurance. Additionally, term life policies may or may not be guaranteed renewable, as this depends on the specific terms of the policy.

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