After 12 years, the policyowner decides she no longer needs the large death benefit on her whole life policy. She calls you, her agent, and you tell her she can use the reduced paid-up non-forfeiture option. Which of the following is not true about the new policy?
A. The new policy will require no further premium payments.
B. The new policy will expire in 10 years.
C. The new death benefit is much lower than the original policy.
D. The new policy will be in effect until the age of 100, or until she dies, whichever occurs first.
Ans: B. The new policy will expire in 10 years.
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In which of the following situations would the buyer not be entitled to a return of his earnest money deposit?
A. The sale is contingent on the buyer receiving financing but no lender will provide a loan B. The buyer is unable to sell his previous home in time to satisfy the contingency C. The home inspector finds that the house is infested with termites and the buyer is unwilling to waive the inspection contingency D. The buyer is transferred by his employer to a new position in a different city, and must withdraw from the transaction
Which of the following is NOT true about Collect on Delivery?
A) The items must be ordered by the addressee. B) It allows mailer to collect postage and price of item from recipient. C) Service is available for international mail. D) Amount to be collected from recipient may not exceed $1,000.