Whole life insurance contracts:
A) do not bind the insurer to pay the face value of the policy on the death of the insured.
B) have a convertibility feature that allows the insured to convert the policy to a term life policy.
C) has no cash surrender value if the policy is terminated.
D) require the insured to pay the specified premium for the duration of his/her life.
Correct Answer:
Verified
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