Term insurance policy that includes conversion privilege

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Reference no: EM131646655

1. A term insurance policy that includes a conversion privilege gives the insured the right to:

include the nonforfeiture provision in the policy

exchange the term policy for a permanent plan of insurance

increase or decrease the death benefit

renew the policy for another time period of the same length

2. All the following are advantages of level premium whole life insurance except:

small initial outlay v. single premium whole life

furnishes permanent protection

combines savings with insurance

provides inflation protection

Reference no: EM131646655

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