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.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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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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