instituational Q: life insurance policies, pension policy, usually, correct, question, insurance

Valores

i’m looking at the 2007 AM Institutional question on Pawtucket Mutual – are we supposed to know these policy terms:
whole life
term life
fixed rate annuities
??
also:
the time horizon of a pension?  it is not indefinite.  it is a single stage plan usually?  it is not appropriate to say indefinite, correct?
thx