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 18 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
YES! Correct, THANKS for helping me on my review

mohan

  • Member
  • Posts: 362
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Disorders that may affect pharmacodynamics include genetic mutations, malnutrition, thyrotoxicosis, myasthenia gravis, Parkinson's disease, and certain forms of insulin-resistant diabetes mellitus.

Did you know?

To maintain good kidney function, you should drink at least 3 quarts of water daily. Water dilutes urine and helps prevent concentrations of salts and minerals that can lead to kidney stone formation. Chronic dehydration is a major contributor to the development of kidney stones.

Did you know?

The longest a person has survived after a heart transplant is 24 years.

Did you know?

In 1835 it was discovered that a disease of silkworms known as muscardine could be transferred from one silkworm to another, and was caused by a fungus.

Did you know?

Fewer than 10% of babies are born on their exact due dates, 50% are born within 1 week of the due date, and 90% are born within 2 weeks of the date.

Which of the following statements is true of linkage? Which of the following statements is true of linkage?
Example of Index entry with Main Term and indented subterms. Example of Index entry with Main Term and indented subterms.
Relations Between Iconic Memory, Short-Term Memory, and Long-Term Memory Relations Between Iconic Memory, Short-Term Memory, and Long-Term Memory
Conversion of isopentenyl pyrophosphate and dimethylallyl pyrophosphate to farnesyl pyrophosphate Conversion of isopentenyl pyrophosphate and dimethylallyl pyrophosphate to farnesyl pyrophosphate
The environmental policy changes over time The environmental policy changes over time
kcal/g to KJ/g conversion kcal/g to KJ/g conversion
Video: Hierarchical Sequencing Method - Sequence Tagged Sites

For a complete list of videos, visit our video library