Insurable interest may be based on
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economics or family relationships.
A life insurance policy that has been surrendered for cash
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may not be reinstated.
If an outstanding policy loan, plus interest, exceeds the cash value of the policy,
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the policy will lapse.
Life insurance premiums are based on
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mortality (death) plus company expenses minus interest earned on
company investments.
The automatic premium loan rider can
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be added to a whole life policy, but not to a term or credit life policy.
The entire contract includes
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the policy and anything else attached at issue, such as the application.
Universal life offers
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, flexible premiums and a minimum guaranteed rate of return.
Whole life benefits are
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bundled (packaged).
Universal life insurance is also known as
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interest sensitive whole life.
The authority a producer
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has that is written in his or her contract is known as express authority.
Although producers must sign the application,
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, they are not a party to the contract.
A universal life policy that has an investment component is called
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variable universal life.
The type of policy used to provide credit life insurance is decreasing term.
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decreasing term.
The law of large numbers
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allows insurers to predict claims more accurately.
A single premium policy has an immediate
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economics or family relationships.
A life insurance policy that has been surrendered for cash
Give this one a try later!
may not be reinstated.
If an outstanding policy loan, plus interest, exceeds the cash value of the policy,
,Give this one a try later!
the policy will lapse.
Life insurance premiums are based on
Give this one a try later!
mortality (death) plus company expenses minus interest earned on
company investments.
The automatic premium loan rider can
Give this one a try later!
be added to a whole life policy, but not to a term or credit life policy.
The entire contract includes
Give this one a try later!
the policy and anything else attached at issue, such as the application.
Universal life offers
Give this one a try later!
, flexible premiums and a minimum guaranteed rate of return.
Whole life benefits are
Give this one a try later!
bundled (packaged).
Universal life insurance is also known as
Give this one a try later!
interest sensitive whole life.
The authority a producer
Give this one a try later!
has that is written in his or her contract is known as express authority.
Although producers must sign the application,
Give this one a try later!
, they are not a party to the contract.
A universal life policy that has an investment component is called
Give this one a try later!
variable universal life.
The type of policy used to provide credit life insurance is decreasing term.
Give this one a try later!
decreasing term.
The law of large numbers
Give this one a try later!
allows insurers to predict claims more accurately.
A single premium policy has an immediate
Give this one a try later!
