Non-forfeiture provisions are included in whole life and endowment policies to assure the policyowner that certain minimum policy benefits shall remain with him even under certain changed conditions. Non-forfeiture values guarantee to the policyowner that
Non-forfeiture provisions are included in whole life and endowment policies to assure the policyowner that certain minimum policy benefits shall remain with him even under certain changed conditions. Non-forfeiture values guarantee to the policyowner that
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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Question
![Non-forfeiture provisions are included in whole life and endowment policies
to assure the policyowner that certain minimum policy benefits shall remain
with him even under certain changed conditions. Non-forfeiture values
guarantee to the policyowner that
A) No death claim will be denied for any misstatement on the application
B) Any guaranteed policy values will belong to the policy owner even if premium payments
are discounted
The face amount of the policy will remain the same even if the insured's health
becomes impaired
The premium on the policy will remain the same even when another beneficiary
D)
is added to the policy](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F112c3b89-0766-4977-85c8-141819afdc6d%2Fe540243a-699a-474c-9f7c-12074eb2de59%2Fnf7uqr_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Non-forfeiture provisions are included in whole life and endowment policies
to assure the policyowner that certain minimum policy benefits shall remain
with him even under certain changed conditions. Non-forfeiture values
guarantee to the policyowner that
A) No death claim will be denied for any misstatement on the application
B) Any guaranteed policy values will belong to the policy owner even if premium payments
are discounted
The face amount of the policy will remain the same even if the insured's health
becomes impaired
The premium on the policy will remain the same even when another beneficiary
D)
is added to the policy
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