This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: All of the following statements about the conversion of a term policy are true EXCEPT A) Under an ... (Read 11 times)

lak

  • Hero Member
  • *****
  • Posts: 546
on: Jul 11, 2018
All of the following statements about the conversion of a term policy are true EXCEPT
 
  A) Under an attained age conversion, the premium is based on the insured's attained age at the time of conversion.
  B) Under an original age conversion, the policyowner must pay a financial adjustment in addition to the premium for the new policy.
  C) Most insurers require original age conversion to take place within a specified period (5 years, for example) of the issue of the term policy.
  D) Evidence of insurability is required before a conversion is permitted.

Question 2

What happens to the premiums for yearly renewable term insurance as an insured gets older?
 
  A) They increase at an increasing rate.
  B) They increase at a decreasing rate.
  C) They decrease at a constant rate.
  D) They remain level.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

makaylafy

  • Sr. Member
  • ****
  • Posts: 347
Reply #1 on: Jul 11, 2018
Answer to Question 1

Answer: D

Answer to Question 2

Answer: A


lak

  • Member
  • Posts: 546
Reply 2 on: Jul 11, 2018
Excellent

smrtceo

  • Member
  • Posts: 344
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Warfarin was developed as a consequence of the study of a strange bleeding disorder that suddenly occurred in cattle on the northern prairies of the United States in the early 1900s.

Did you know?

Malaria was not eliminated in the United States until 1951. The term eliminated means that no new cases arise in a country for 3 years.

Did you know?

There are 60,000 miles of blood vessels in every adult human.

Did you know?

The first monoclonal antibodies were made exclusively from mouse cells. Some are now fully human, which means they are likely to be safer and may be more effective than older monoclonal antibodies.

Did you know?

Fungal nail infections account for up to 30% of all skin infections. They affect 5% of the general population—mostly people over the age of 70.

This modified model of Easton’s systems theory puts government decision makers as the source of pol This modified model of Easton’s systems theory puts government decision makers as the source of pol
Role of PKM-zeta in Long-Lasting Long-Term Potentiation Role of PKM-zeta in Long-Lasting Long-Term Potentiation
Metric conversion using the place value chart. Metric conversion using the place value chart.
Major Categories of Long-Term Memory Major Categories of Long-Term Memory
Types of Long-Term Memories Types of Long-Term Memories
No payments were made on a $2,598 loan during its three-year term. What was the annually ... No payments were made on a $2,598 loan during its three-year term. What was the annually ...
Video: Hershey Chase Experiments

For a complete list of videos, visit our video library