Decreasing Term reduces in death benefit as the loan obligation reduces in balance. Frieda wants coverage until she has paid back her business loan in 10 years. Term Insurance is characterized by a low initial premium outlay when the insured is young and increases as the insured's age advances. Meri randi baji storiesĪnswer B is correct. D Will expire at an attained age or after a specified period. C Can be written separately or with other types of insurance. All of the following are characteristics of Term Insurance, except: A No permanent cash or loan value.ī High premium outlay in early years. Get started today! Chapter 3 Exam Questions. Terms of Use and Privacy Policy.Īlready have an account? Log in. To signup with Google, please enable popups. ![]() To login with Google, please enable popups.
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