Which of the following assertions about a Whole Life insurance policy is TRUE? A. Premium payments may be increased or decreased at the premium payer's discretion. B. A person's beneficiary designation can only be changed if that individual passes a medical examination. C. The policy owner can borrow against the policy's cash value. D. In order to receive the death benefit, the specified beneficiary must provide proof of ongoing insurable interest in the insured's life.
Which of the following assertions about a Whole Life insurance policy is TRUE? A. Premium payments may be increased or decreased at the premium payer's discretion. B. A person's beneficiary designation can only be changed if that individual passes a medical examination. C. The policy owner can borrow against the policy's cash value. D. In order to receive the death benefit, the specified beneficiary must provide proof of ongoing insurable interest in the insured's life.
Microeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
ChapterST2: The Economics Of Social Security
Section: Chapter Questions
Problem 1CQ
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Which of the following assertions about a Whole Life insurance policy is TRUE?
A. Premium payments may be increased or decreased at the premium payer's discretion.
B. A person's beneficiary designation can only be changed if that individual passes a medical examination.
C. The policy owner can borrow against the policy's cash value.
D. In order to receive the death benefit, the specified beneficiary must provide proof of ongoing insurable interest in the insured's life.
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