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Questions and Answers
K is shopping for a permanent life insurance policy that will offer her the most protection per dollar of annual premium. Which of these policies best fits her needs?
K is shopping for a permanent life insurance policy that will offer her the most protection per dollar of annual premium. Which of these policies best fits her needs?
- Term Life
- Straight Life (correct)
- Variable Life
- Universal Life
When an insurer issues a policy that refuses to cover certain risks, this is referred to as a(n)
When an insurer issues a policy that refuses to cover certain risks, this is referred to as a(n)
exclusion
What Period clause is used to avoid unintentional lapse of a life insurance policy?
What Period clause is used to avoid unintentional lapse of a life insurance policy?
Grace Period Clause
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Study Notes
Permanent Life Insurance Options
- Straight Life offers maximum coverage per dollar of premium, making it ideal for those seeking extensive protection.
Insurance Policy Conditions
- Exclusion clauses indicate specific risks that an insurer will not cover under a policy, emphasizing the need for policyholders to understand limitations.
Policy Maintenance
- The Grace Period Clause prevents unintentional lapses in life insurance coverage, providing policyholders additional time to pay premiums without losing benefits.
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