Separate accounts business of a life insurance company represents
A. policies written that cover individuals as a group.
B. liabilities owed to other life insurance companies as a result of reinsurance
C. the cumulative cash value paid to policyholders if the policies are terminated before maturity.
D. a fund established separately from the other funds of the insurance company and invested without regard to the usual diversification restrictions.
E. the cumulative price that the company may repurchase policies from existing customers.
Ans: C. the cumulative cash value paid to policyholders if the policies are terminated before maturity.
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