Type of Insurance Policies

which of these would be considered a Limited-pay Life policy

life paid up at age 70

whole life insurance is sometimes referred to as "straight Life". What does the word straight indicate when using this phrase.

the duration of premium payment.

under a graded premium whole life

the premium increases each year during the early years of the contract and remains the same after that time

Under a Renewable Term policy,

the renewal premium is calculated on the basis of the insured's attained age.

variable whole life insurance can be described as

both insurance and securities products

a universal life policy is sometimes referred to as an unbundled life policy because the owner can see the interest earned, expense charges, and the

cost of insurance

additional coverage can be added to a whole life policy by adding a(n)

decreasing term rider

P owns a $25,000 Life Policy that pays the face amount to him if he lives to age 70, or to his beneficiary if he dies before age 70. What kind of policy does P own?

endowment at age 70

J is issued a Life Insurance policy with a death benefit of $100,000. She pays $600 per year in premium for the first 5 years. The premium then increases to $900 per year in the sixth year and remains level thereafter. The policy's death benefit also remains at $100,000. Which type of life insurance policy is this?

Modified Premium

S is close to retiring and would like to purchase a policy that will yield greater gains than bonds, but will still protect the principal with a minimum level or risk. Which product would S be advised to purchase?

Equity Index insurance

Which policy requires an agent to register with the National Association of Securities Dealers (NASD) before selling?

Variable Life