Question
aymond James purchased a non-participating whole life policy with a face amount of $300,000and selected a 20-pay option. He is 35 years of age and
aymond James purchased a non-participating whole life policy with a face amount of $300,000and selected a 20-pay option. He is 35 years of age and he will have a paid-up policy at age 55. Which of the following are features offered by the guaranteed non-participating whole life policy?
1. Automatic premium loan
2. Cash Surrender Value ( CSV)
3. Reduced Paid-Up insurance and Extended Term insurance
4. Policy loans
5. Dividends
6. Flexibility to change or add new life insureds
A. | 2, 3, 4, and 5 only | |
B. | 2, 3, 4, and 6 only | |
C. | 3, 4, 5, and 6 only | |
D. | 1, 2, 3, and 4 only |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started