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Which of the following statements about a five - year - old Whole Life policy is CORRECT? A . If a policyowner stops paying premiums,
Which of the following statements about a fiveyearold Whole Life policy is CORRECT? A If a policyowner stops paying premiums, the policyowner may elect a Nonforfeiture option. B If the insurance company discovers a misrepresentation on the application, they may rescind the policy. C The Contestable period cannot begin again even if the policy is reinstated. D If extra premiums were charged for special risks, cash and Nonforfeiture option values increased accordingly.
Which of the following statements about a fiveyearold Whole Life policy is CORRECT?
A If a policyowner stops paying premiums, the policyowner may elect a Nonforfeiture option.
B If the insurance company discovers a misrepresentation on the application, they may rescind the policy.
C The Contestable period cannot begin again even if the policy is reinstated.
D If extra premiums were charged for special risks, cash and Nonforfeiture option values increased accordingly.
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