"Juan owns a 5-year $50,000 term life insurance policy, and Maria owns a $50,000 whole life insurance policy. Which of the following statements is CORRECT?
A) Both policies provide living benefits to the policyowners while alive.
B) Juan's policy, but not Maria's, may have an option to convert.
C) Juan and Maria will receive the cash surrender value if they cancel their policies.
D) Maria's policy, but not Juan's, may have an option to renew."
Ans: B) Juan's policy, but not Maria's, may have an option to convert.
You might also like to view...
Which of the following is INCORRECT about the Statement of Cash Flows?
(a) The direct method may be used to report cash provided by operating activities (b) The statement shows the cash provided (used) for three categories of activity (c) The operating section is the last section of the statement (d) The indirect method may be used to report cash provided by operating activities
Amouge is an Oman's leading perfume brand. Its value consists of a product.
A) proprietary characteristics and attributes for which customers are willing to pay. B) proprietary characteristics and attributes for which customers consider paying. C) performance characteristics and attributes for which customers are willing to pay. D) performance characteristics and attributes for which customers consider paying