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One of the functions of a life insurance office is the writing of life insurance policies for individuals. (a) How does the life office derive

One of the functions of a life insurance office is the writing of life insurance policies for individuals.

(a) How does the life office derive income from this function?

(b) Describe the basic characteristics of the two main types of life insurance policies.

(c) Briefly describe one other type of related insurance policy that an individual may purchase.

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