Bill purchased a nonparticipating life insurance policy. The cash value was based on the insurer's present mortality, expense, and investment experience. His premium was guaranteed for an initial period, and is "re-determined" after three years. Bill purchased:
(a) universal life insurance
(b) variable life insurance
(c) current assumption whole life insurance
(d) indeterminate-premium whole life insurance
Ans: (c) current assumption whole life insurance
Business
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Random numbers are equally likely to occur
Indicate whether this statement is true or false.
Business
Charlie is starting to save for his retirement now at age 20. If inflation averages 4% annually until his retirement age and he earns an annual rate of return of 4% on his investments during this period,
then he should be able to enjoy a very comfortable retirement when he is retired. Indicate whether this statement is true or false.
Business