7.

Securitisation of risk means:

Select one:

a.

insurance that provides a benefit if the insured becomes totally and permanently disabled through accident or injury, preventing him or her from working.

b.

insurance designed to provide regular payment to policyholders if they are unable to work for an extended period because of illness or accident.

c.

the transference of insurable risk to the capital markets through the creation of a financial instrument.

d.

insurance that permits the term coverage to be switched to whole-life insurance without providing evidence of insurability.