Explain how dividends may be used when distributed to the policy owner in a participating contract
What will be an ideal response?
The following is a list of how dividends can be used. 1 ) taken in cash, 2 ) pay a portion of the next premium, 3 ) left to accumulate interest and pay the policy up sooner than agreed to, 4 ) purchase paid-up insurance, 5 ) some insurers allow the purchase of one-year term insurance.
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Which characteristics are typical in a new buy buying situation? (Select all that apply)
The organization makes changes to a standing order. Decision time is lengthy. The buying center includes more people. The organization changes back to an old vendor.
In choosing an insurance company, the most important factor is:
A) how many dollars it pays for claims B) the amount of liquid assets the insurer has C) its financial strength D) the state in which it is domiciled