Which of the following is NOT a category of life insurance?

The correct answer is C, as auto insurance is not a category of life insurance. Life insurance is specifically designed to provide financial protection against the loss of life, and it encompasses various categories including term insurance, whole life insurance, and universal life insurance.

Term insurance provides coverage for a specified period and pays a death benefit only if the insured dies during that term. Whole life insurance provides coverage for the entire life of the insured, with an added cash value component that can grow over time. Universal life insurance combines flexible premium payments with life-long protection while also allowing policyholders to accumulate cash value.

These categories are essential for understanding the different ways life insurance can meet various needs and financial goals. Auto insurance, however, is a separate category entirely, focused on providing coverage for vehicles against accidents, theft, and other car-related liabilities. This distinction is crucial for students studying for the LLQP exam, as it underscores the breadth of insurance products and the specific nature of life insurance.