Explanation of whether insurance premiums

Reference no: EM1313782

Life insurance companies require applicants to submit to a physical examination as proof of insurability prior to issuing standard life insurance policies. In contrast, credit card companies offer their customer's type of credit called "credit life insurance" which pays off the credit card balance if the cardholder dies. Would you expect insurance premiums to be higher (per dollar of death benefits) on standard life or credit life policies? Explain.

Reference no: EM1313782

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