When the premium declines gradually each year, a term policy is referred to as decreasing term.
Correct Answer:
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Q3: Most term policies are not convertible into
Q4: Whole life is often referred to as
Q5: Type A universal policies pay the cash
Q6: Modified life generally is a type of
Q7: Endowment insurance is currently far less popular
Q9: Universal life contracts provide for more flexible
Q10: Renewable term policies are initially written for
Q11: If a contingent beneficiary is not named
Q12: Insurers generally reject applications for coverage if
Q13: The suicide clause assures that benefits are
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