Types of Life Insurance quiz missed
an applicant wants to buy a life insurance policy in which he can count on receiving the same benefits as stated in the contract. Which type should he buy?
fixed life insurance policies offer minimum guaranteed or fixed benefits stated in the contract. Note that variable life insurance or annuities are contracts in which the cash values accumulate based upon specific portfolio stocks
If a life insurance policy increases significantly in face amount (death benefit) when the insured reaches a specified age, what type of policy is this?
jumping juvenile policy -provides a low face amount in the early years and then increase usually by 5 times the amount when the insured reaches an age specified in the policy
which of the following features of the indexed whole life policy is not fixed? cash value growth premium death benefit policy period
cash value growth, it is dependent upon the equity indexed though minimum cash value is guarenteed