Reference no: EM133212730
QUESTION 1
With the extended term Nonforfeiture option, the length of the term depends on the face value of the original policy.
True
False
QUESTION 2
Policyowner may use the life insurance policy as a collateral of a loan
True
False
QUESTION 3
An agent is permitted to make changes in a policy at the request of a policyowner.
True
False
QUESTION 4
Assumed interest rate doesn't affect the annuitant's longevity. Therefore, it has no impact on the premium amount.
True
False
QUESTION 5
The policy loan is a loan taken out by the policyowner and therefore the beneficiary need not repay the policy loan.
True
False
QUESTION 6
The own occupation definition of total disability is more liberal than the any occupation definition.
True
False
QUESTION 7
The younger the annuitant's attained age when annuity starts to pay, the higher premium of the annuity will be.
True
False
QUESTION 8
No futher premiums is needed with reduced paid-up insurance Nonforfeiture option.
True
False
QUESTION 9
For indeterminate premium policies, the premium is lower at the beginning of the policy period and higher in the later periods.
True
False
QUESTION 10
Family maintenance policy combines level term insurance with a permanent policy.
True
False