Gross premiums
Single premiums
Advance premiums
Level premiums
✅ The correct answer is D.
With increase in premium with age, healthy people tended to withdraw leaving unhealthy people. This lead to development of Level premiums. Level-premium insurance is term life insurance for which the premiums are guaranteed to remain the same throughout the contract, while the amount of coverage provided increases.
With increase in premium with age, healthy people tended to withdraw leaving unhealthy people. This lead to development of Level premiums. Level-premium insurance is term life insurance for which the premiums are guaranteed to remain the same throughout the contract, while the amount of coverage provided increases.