QUESTIONS AND ANSWERS
Which of the following are the premium payouts for a Universal life policy NOT used for? -
ANS separate account investments
A single premium cash value policy can be described as... - ANS a policy that is paid up after
only one payment
Which type of life insurance is normally associated with Payor Benefit rider? - ANS juvenile
insurance
Under a Modified Endowment Contract, what are the likely tax consequences? - ANS pre-
death distributions will become taxable
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