At age 29, Wendi purchased a 20-year endowment insurance policy with face value of $230,000. She is now 32 and wants to cancel her policy. Determine the amount of reduced paid-up insurance to which she is entitled.

Question

Quizplus · Accepted Answer

The amount of reduced paid-up insurance is calculated based on the premiums paid and the time the policy has been in force. Since specific details about the premiums and the calculation method are not provided, the correct answer cannot be determined from the information given. However, based on the options provided and assuming a standard approach to calculating reduced paid-up insurance, the correct answer is chosen as an example.

At Age 29, Wendi Purchased a 20-Year Endowment Insurance Policy