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PSI 200 Life Health Accident EXAM
PSI 200
PSI 200
Nonforfeiture Options - Answer- cash value, reduced paid-up insurance, extended term insurance Cash Value - Answer- the amount of money a whole life policyholder would receive if the policy were surrendered before death or maturity Reduced Paid-Up - Answer- The amount of equity (ownership) or cash accumulation in a permanent life insurance policy. Extended Term - Answer- A nonforfeiture option that allows the policyowner to use the cash values of a lapsed permanent policy, as a net prem...
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