Chapter 5 Flashcards
1
Q
In whole life, if the loan plus the interest exceeds the cash value,
A
coverage terminates
2
Q
The shorter period to pay premiums,
A
the faster the cash value grows.
3
Q
If a policy loan plus interest exceeds the cash value,
A
the policy lapses.
4
Q
Nonforfeiture options include
A
surrender for cash value, reduced paid-up insurance, extended term insurance.
