Which two policies pay out for a two year period?

The correct answer indicates that both Mortgage Payment Protection Insurance (MPPI) and Accident, Sickness, and Unemployment (ASU) pay out for a specified period, which can indeed include a two-year timeframe.

MPPI provides coverage for mortgage payments in the event that the policyholder is unable to work due to specified reasons, such as illness or involuntary unemployment. Typically, it can offer benefits for a limited period, often up to 12 or 24 months, depending on the terms of the policy. This feature makes it particularly relevant to borrowers who want to ensure their mortgage obligations are met during a temporary loss of income.

ASU insurance serves a similar purpose, providing a safety net for policyholders if they find themselves out of work due to accidents, sickness, or unemployment. The benefit payment duration can also extend to a maximum of two years, allowing policyholders to manage their living expenses during periods of financial difficulty.

In contrast, the other options consist of policies that do not uniformly provide payouts over a two-year period. For example, whole of life and universal life insurance typically pay out upon death, regardless of the time frame. Term assurance offers coverage for a specific term but does not guarantee a payout if the individual does not pass away