An automatic premium loan provision is designed
A) to pay premiums that are not paid when due to prevent lapse,
B) to reduce the amount of administrative time used to approve a policy loan,
C) to negate the necessity of loan approval by the insurer's loan committee,
D) to allow loans to automatically qualify if supported by superior collateral.
Correct Answer:
Verified
Q37: Which of the following statements is true
Q38: If a policy loan on the cash
Q39: An interest settlement option
A) keeps a policy
Q40: The cash value option allows the insured
A)
Q41: The waiver of premium benefit does not
Q42: Which of the following is a true
Q43: Which of the following statements is true
Q44: Which of the following will generally be
Q45: Term insurance contracts generally do not have
A)
Q46: A spendthrift trust provision involves
A) an agreement
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