A QTIP gives all trust income to a surviving spouse for life, payable at least annually, with the principal passing to someone else upon the spouse's death.

Sean has a young family and needs affordable whole life insurance. He is looking for a policy with lower initial premiums but is not averse to paying more at a later time. What type of whole life insurance variation would be suitable for him?

A) Single pay B) Graded premium C) Life paid-up at 65 D) 20-pay life"

Companies are increasingly adopting high-commission plans to make sure that salespersons are motivated to build long-term relationships with customers

Indicate whether the statement is true or false