Chapter 4 Review (Life): Premiums, Proceeds and Beneficiaries Flashcards
1
Q
What is the underlying concept regarding level premiums?
A
The early years are charged more than what is needed.
2
Q
Which settlement option pays a stated amount to an annuitant, but no residual value to a beneficiary?
A
Life Income
3
Q
A policyowner is allowed to pay premiums more than once a year under which provision?
A
Mode of Premium
