Insurance Policy Flashcards
1
Q
Options you have for your cash value if you terminate a policy that has cash value
A
Nonforfeiture options
2
Q
Allows the policyowner to receive the policies cash value
A
Cash surrender
3
Q
Permits the policyowner to use the policies cash value to buy level and extended term insurance for a certain.
A
Extended term option
4
Q
Hi Tiana page no more premiums but the face amount is decreased
A
Reduced paid-up option
5
Q
Take the cash
A
Cash option
6
Q
Produces premium payment
A
Reduce premium option
7
Q
Allows dividends to accumulate interest
A
Accumulate interest options
8
Q
Purchase single payment whole life coverage
A
Paid up additions option
9
Q
Purchase one-year term protection
A
One year term option
