Author Question: Tamara purchased a term insurance policy when she had high life insurance needs and limited income. ... (Read 226 times)

mpobi80 · **on:** Jul 11, 2018

Tamara purchased a term insurance policy when she had high life insurance needs and limited income.

Now Tamara can afford whole life insurance. What term life insurance provision will permit Tamara to switch her term insurance to whole life insurance without having to show that she is still insurable?
A) renewal provision
B) tax-free exchange provision
C) conversion provision
D) free look provision

Question 2

Carl would like to purchase life insurance. He would also like to invest in a mutual fund. An agent told Carl about a form of life insurance in which Carl could select where the saving component is invested.

This form of life insurance has fixed premiums and the cash value is not guaranteed. This type of life insurance is called
A) universal life insurance.
B) whole life insurance.
C) variable life insurance.
D) current assumption whole life.