Which of the following statements about adjustable life insurance is true? The face amount and premiums can be altered at the same time by the policyholder – Adjustable life insurance combines characteristics of both term and permanent coverage.
What sort of life insurance policy covers two or more individuals and pays the face amount upon the first insured’s death?
Joint Life Insurance – Joint Life Insurance offers protection for two or more individuals, with the death benefit given upon the first death. Since the likelihood of having to pay out a death claim is greater, the premiums are much higher than for single-person plans.
Factors that can affect an auto insurance premium are: – Value of the insured vehicle: the higher the value of the car, the higher the premium. -Repair record of the car: the more easily car damage can be repaired, the lower the premium. -Your age: younger drivers have less experience and pay higher premiums.
What sort of life insurance has changeable premiums and a variable death benefit?
Universal life insurance is distinguished by its changeable premiums and death benefit.
What is the distinction between universal and whole life insurance? – A UL policy provides the insured with many of the same permanent protection and advantages as whole life insurance, in addition to a premium that may be adjusted to meet fluctuating income.
What sort of life insurance pays the face amount for two lives?
What form of life insurance policy covers two lives and pays the face value upon the first death? A policy that guarantees to pay the face value upon the death of the first of two insured lives is known as a Joint Life Policy.