QUESTION 41

1. No medical examination is required for the one-year term dividend option, unless the policyowner choose another option and wishes to switch to this option only recently

True

False

QUESTION 42

1. With renewable term policy, the premium increases every time the policy is renewed.

True

False

QUESTION 43

1. Annuities can not be taken as cash in a lump sum.

True

False

QUESTION 44

1. There are two approaches for the cost comparison methods: the comparative interest rate method, an the interest-adjusted net cost method.

True

False

QUESTION 45

1. Waiver of premium rider is automatically included in most life insurance policies.

True

False

QUESTION 46

1. The policyowner needs to provide evidence of insurability upon the application of the payer rider.

True

False

QUESTION 47

1. Graded premium plan is a variation of the modified premium plan.

True

False

QUESTION 48

1. The most simple option of dividend payment is the cash dividend option.

True

False

QUESTION 49

1. With the accumulation at interest option, the beneficiary will get the face value of the policy, and the policyowner will get the dividends along with the accrued interest.

True

False

QUESTION 50

1. The insured can assign the policy as collateral of a loan.

True

False