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15. Which of the following best describes term life insurance? A. The insured is covered during his or her entire lifetime. B. The insured pays the premium until his or her death. C. The insured pays a premium for a specified number of years. D. The insured can borrow or collect the cash value of the policy.16. All insurance is based on a principle called A. premium earnings. B. investment premiums. C. division of risk. D. cash value coverage.17. In a health insurance policy, a statement that an applicant won't be covered for a certain pre-existing condition is called a/an A. exclusion. B. supplement. C. waiting period. D. major medical coverage.18. The coverage included in an automobile insurance policy that covers property damage is _______ insurance. A. supplemental B. liability C. major medical D. term
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