Quiz #4 Life Insurance
beneficiaries ____ ______ have to have an insurable interest in the policy holder
DO NOT
The interest credited under an interest option is
TAXABLE
Fixed period settlement option
both the principal and interest will be liquidated over a selected period of time
what type of insurance would be used for a return of premium rider
increasing term
all of the following are nonforfeiture options except
interest only
which is true about a spouse term rider?
the rider is usually level term insurance
Children's riders attatched to whole life policies are usually issued as what type of insurance
term
A life insurance policy does not have a war clause. If the insured is killed during a time of war, what will the beneficiary recieve from the policy?
the full death benefit
What is the other term for cash payment settlement option
lump sum