Life Insurance Policies
How is a single premium whole life policy funded?
Answer and explanation
Answer: C. A single premium funds the entire contract at once, so the policy is paid up from the outset and carries an immediate and substantial cash value. Level annual, limited and flexible funding describe the other designs.Source: PSI — New York DFS Insurance Candidate Information Bulletin — Outline, single premium whole life
More life insurance policies questions
- What does an actively at work requirement do in a group life plan?
- What does an underwriter examine when assessing a group for life insurance?
- What does it mean for a limited payment whole life policy to be paid up?
- What does level premium term mean?
- What does the floor in a fixed indexed life policy do?
- What does the owner of a level term policy receive if the policy reaches the end of its term without a claim?
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