All of the following statements concerning whole life insurance are correct EXCEPT: a. Whole life insurance provides for the payment of the policy face amount upon the death of the insured, regardless of when death occurs. b. If the whole life insurance premiums are to be paid throughout the insured's lifetime, the insurance is known as limited-payment; if the whole life insurance premiums are to be paid only during a specified period, the insurance is designed as ordinary life. c. Whole life insurance offers permanent protection with cash values, and it can be either participating or nonparticipating. d. The protection afforded by the whole life insurance contract is permanent-the term never expires, and the policy never has to be renewed or converted.

Question

16-01-2020
Business

contestada

All of the following statements concerning whole life insurance are correct EXCEPT: a. Whole life insurance provides for the payment of the policy face amount upon the death of the insured, regardless of when death occurs. b. If the whole life insurance premiums are to be paid throughout the insured's lifetime, the insurance is known as limited-payment; if the whole life insurance premiums are to be paid only during a specified period, the insurance is designed as ordinary life. c. Whole life insurance offers permanent protection with cash values, and it can be either participating or nonparticipating. d. The protection afforded by the whole life insurance contract is permanent-the term never expires, and the policy never has to be renewed or converted.

Respuesta :

Otras preguntas

9. Which is a true statement about the denominator in a fraction? (Select one answer) It is always a negative number It cannot be 0 It has to be an even number

Speech on every person is completely unique

A house on the market was valued at $472,000. After several years, the value increased by 19%. By how much did the house's value increase in dollars? What is th

The coordinates of the image of line segment RT are R’(-2, -4) and T’(4, 4). The image was produced by a dilation with a scale factor of ½ centered at the origi

• The difference between a polynomial or rational equation and polynomial or rational inequality

Please help out will give brainliest

How can you help your younger brother or sister to be a good person?

Determine the reason that each source is unreliable. faulty reasoning omission bias a general report on raising children that is not supported by data arrowRigh

What is the molarity of a solution containing 150 g of zinc sulfate (ZnSO4) per liter?

A company has a policy of retiring company cars; this policy looks at number of miles driven, purpose of trips, style of car and other features. The distributio

oreoluwa2001ng oreoluwa2001ng · Answer 1 · 2020-01-20T14:51:40+01:00

Answer: D - The protection afforded by the whole life insurance contract is permanent-the term never expires, and the policy never has to be renewed or converted.

Explanation: Whole life insurance is a contract between the insured and insurer of the life insurance policy in which the insurer will pay the death benefit of the policy to the policy's beneficiaries when the insured dies. It is guaranteed to remain in force for the insured's entire lifetime, provided required premiums are paid, or to the maturity date.

A whole life insurance policy is said to "mature" at death or the maturity age of 100, whichever comes first. The maturity date will be the "policy anniversary nearest age 100". The policy becomes a "matured endowment" when the insured person lives past the stated maturity age.