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Author Question: If the premium on a term insurance policy is not paid by the due date, which of the following is true? (Read 16 times)

ARLKQ

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If the premium on a term insurance policy is not paid by the due date, which of the following is true?


◦ The policy is immediately terminated.
◦ The death benefit of the policy is reduced by the amount of the premium owed.
◦ The premium will be deducted from the cash value of the policy.
◦ The policyholder is given a grace period to pay after which the policy will be terminated if the premium is not paid.


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Marked as best answer by ARLKQ on Apr 14, 2019

ally

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ally

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