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Exam ICWIM Topic 1 Question 97 Discussion

Actual exam question for CISI's ICWIM exam
Question #: 97
Topic #: 1
A non-profit, whole-of-life assurance policy will pay:

Suggested Answer: D Vote an answer

A non-profit whole-of-life assurance policy is a type of life insurance that guarantees a fixed payout upon death, without any investment element.
* Why is Option D Correct?
* The sum assured is determined at the start of the policy and does not fluctuate.
* Unlike unit-linked or with-profits policies, the payout is fixed and guaranteed.
* Why Not Other Options?
* A (Linked to insurance company's units) # Only applies to unit-linked policies, which have investment risk.
* B (Pre-determined time limit) # Describes term life insurance, not whole-of-life.
* C (Inflation-linked payout) # Applies to index-linked policies, not non-profit whole-of-life.
# Reference: FCA Handbook (Insurance Conduct of Business), CISI Wealth & Investment Management.

by Malcolm at Feb 10, 2026, 08:22 AM

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