Primerica: Life insurance policies EXAM WITH 100% CORRECT ANSWERS 2025/ 2026

Primerica: Life insurance policies EXAM WITH 100% CORRECT ANSWERS 2025/ 2026 The policyowner of a Universal Life policy may skip paying the premium and the policy will not lapse as long as a. the next month's premium is sufficient to cover both the current premium amount and the skipped amount b. the policy contains sufficient cash value to cover the cost of insurance c. the previous premium payments were high enough to create an excess of premium d. the policyowner cannot skip premiums without the policy lapsing -b. the policy contains sufficient cash value to cover the cost of insurance The type of policy that can be changed from one that does not accumulate cash value to the one that does is a a. convertible term policy b. renewable term policy c. decreasing term policy d. whole life policy -a. convertible term policy