If the premium on a term insurance policy is not paid by the due date, which of the following is true?
A) The policy is immediately terminated.
B) The death benefit of the policy is reduced by the amount of the premium owed.
C) The premium will be deducted from the cash value of the policy.
D) The policyholder is given a grace period to pay after which the policy will be terminated if the premium is not paid.
Correct Answer:
Verified
Q40: A disadvantage of variable life policies is
Q41: A disadvantage of whole life policies is
Q42: Your need for life insurance will last
Q43: Which of the following will not affect
Q44: Which of the following insurance type is
Q46: Which of the following types of insurance
Q47: The best time to buy a whole
Q48: A life insurance premium is _ related
Q49: Of the following statements dealing with premiums
Q50: A universal life policy gives policyholders the
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents