Life Insurance Policies
For how long are premiums payable under a continuous premium whole life policy?
Answer and explanation
Answer: A. Continuous premium, or straight, whole life spreads the cost over the insured's entire lifetime, which makes its annual premium the lowest of the whole life forms. Paying over a stated number of years is limited payment whole life.Source: PSI — New York DFS Insurance Candidate Information Bulletin — Outline, continuous premium whole life
More life insurance policies questions
- Which combination of features most clearly signals variable universal life rather than ordinary whole life?
- Which description best distinguishes indexed universal life from variable universal life?
- Which elements does a continuous premium whole life policy guarantee?
- Which event gives rise to the conversion right under section 3220?
- Which is the most common type of group life plan sponsor?
- Who holds the contract in a group life insurance arrangement, and what does the member receive?
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