Modified life generally is a type of whole life insurance with premiums that are higher than usual for an initial period of time in order to provide funds to pay the sales commissions.
Correct Answer:
Verified
Q1: Industrial life is a type of insurance
Q2: Term insurance contacts have no cash value
Q3: Most term policies are not convertible into
Q4: Whole life is often referred to as
Q5: Type A universal policies pay the cash
Q7: Endowment insurance is currently far less popular
Q8: When the premium declines gradually each year,
Q9: Universal life contracts provide for more flexible
Q10: Renewable term policies are initially written for
Q11: If a contingent beneficiary is not named
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