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