« previous next »

Author Question: Which of the following statements about the grace period in a whole life insurance contract is (are) ... (Read 47 times)

Mr. Wonderful

  • Hero Member
  • *****
  • Posts: 866
on: Jul 11, 2018
Which of the following statements about the grace period in a whole life insurance contract is (are) true?
 
  I. The purpose of the grace period is to prevent the policy from lapsing by giving the policyowner additional time to pay an overdue premium.
  II. If the insured dies during the grace period, the death benefit is reduced by 50 percent.
  A) I only
  B) II only
  C) both I and II
  D) neither I nor II

Question 2

Amy purchased a life insurance policy with the intent of committing suicide to pay all the debts that were burdening her family
 
  If she commits suicide 9 months after the policy is purchased, and the insurer is able to prove that her death was a suicide, how much will be paid by the insurance company?
  A) nothing, because the policy is void
  B) the premiums paid for the policy
  C) the policy's cash value
  D) the face value of the policy


tmlewis4706

  • Sr. Member
  • ****
  • Posts: 295
Reply #1 on: Jul 11, 2018
Answer to Question 1

Answer: A

Answer to Question 2

Answer: B


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

People with alcoholism are at a much greater risk of malnutrition than are other people and usually exhibit low levels of most vitamins (especially folic acid). This is because alcohol often takes the place of 50% of their daily intake of calories, with little nutritional value contained in it.

Did you know?

Signs and symptoms that may signify an eye tumor include general blurred vision, bulging eye(s), double vision, a sensation of a foreign body in the eye(s), iris defects, limited ability to move the eyelid(s), limited ability to move the eye(s), pain or discomfort in or around the eyes or eyelids, red or pink eyes, white or cloud spots on the eye(s), colored spots on the eyelid(s), swelling around the eyes, swollen eyelid(s), and general vision loss.

Did you know?

Atropine was named after the Greek goddess Atropos, the oldest and ugliest of the three sisters known as the Fates, who controlled the destiny of men.

Did you know?

When taking monoamine oxidase inhibitors, people should avoid a variety of foods, which include alcoholic beverages, bean curd, broad (fava) bean pods, cheese, fish, ginseng, protein extracts, meat, sauerkraut, shrimp paste, soups, and yeast.

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Classification of life histories based on juvenile survival, fecundity, and age at reproductive matu Classification of life histories based on juvenile survival, fecundity, and age at reproductive matu
DNA replication is the basis for the perpetuation of life through time DNA replication is the basis for the perpetuation of life through time
Crying Frequency in the Early Months In their first months of life, infants often cry for no appare Crying Frequency in the Early Months In their first months of life, infants often cry for no appare
Nitin earns $48,000 per year. Determine his gross earnings for each pay period if he is paid ... Nitin earns $48,000 per year. Determine his gross earnings for each pay period if he is paid ...
Life cycle of a moss (Polytrichum) Life cycle of a moss (Polytrichum)
Video: Secondary Active Transport

For a complete list of videos, visit our video library