A term life insurance contract:
A. obligates the insurer to pay the face amount of the policy if the insured dies within a specified period of time.
B. develops a cash surrender value that the insured can recover if the policy is terminated.
C. develops a loan value that the insured can recover if the policy is terminated.
D. obligates the insured to pay the specified premium for the duration of his or her life.
Answer: A
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