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 57 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
Gracias!

amandanbreshears

  • Member
  • Posts: 320
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates’s recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

More than 50% of American adults have oral herpes, which is commonly known as "cold sores" or "fever blisters." The herpes virus can be active on the skin surface without showing any signs or causing any symptoms.

Did you know?

Pink eye is a term that refers to conjunctivitis, which is inflammation of the thin, clear membrane (conjunctiva) over the white part of the eye (sclera). It may be triggered by a virus, bacteria, or foreign body in the eye. Antibiotic eye drops alleviate bacterial conjunctivitis, and antihistamine allergy pills or eye drops help control allergic conjunctivitis symptoms.

Did you know?

There used to be a metric calendar, as well as metric clocks. The metric calendar, or "French Republican Calendar" divided the year into 12 months, but each month was divided into three 10-day weeks. Each day had 10 decimal hours. Each hour had 100 decimal minutes. Due to lack of popularity, the metric clocks and calendars were ended in 1795, three years after they had been first marketed.

Did you know?

Cyanide works by making the human body unable to use oxygen.

Cellular changes associated with short-term and long-term memory in the sea slug. Cellular changes associated with short-term and long-term memory in the sea slug.
Long-Term Potentiation and Long-Term Depression Long-Term Potentiation and Long-Term Depression
Part of a Semantic Network in Long-Term Memory Part of a Semantic Network in Long-Term Memory
A diagram showing one of Mendel’s crosses. True-breeding strains of pea plants with smooth and ... A diagram showing one of Mendel’s crosses. True-breeding strains of pea plants with smooth and ...
A 16-input multiplexer is to be used to perform parallel-to-serial data conversion. Which of ... A 16-input multiplexer is to be used to perform parallel-to-serial data conversion. Which of ...
Video: Hershey Chase Experiments

For a complete list of videos, visit our video library