A non-profit, whole-of-life assurance policy, will pay:

What is a Non-Profit, Whole-of-Life Assurance Policy?

It provides guaranteed coverage for the entire life of the insured.

The policy does not participate in the insurer’s profits (hence "non-profit") and pays a pre-determined sum upon death.

Why D is Correct

The payout is fixed at the policy’s inception, offering certainty to beneficiaries.

Other Options Analyzed

A. Linked to units: Describes a unit-linked or investment-linked policy.

B. Predetermined time: Describes term insurance.

C. Linked to inflation: Describes index-linked policies.

ICWIM Textbook, Chapter on Insurance Products: Explains non-profit policies and their characteristics.

Insurance Guidelines: Confirm fixed payouts as a feature of non-profit, whole-of-life assurance.

References