Ins 4

Question 1

Increasing term life ins that pays additional death benefit to beneficiary equal to amount of premiums paid

Answer 1

Rop return of premium

Question 2

Rop is paid 2 if

Answer 2

Death occurs within specified period or insured outlived term

Question 3

Rop is 2 structured 2 consider

Answer 3

Low risk factor of term policy at 2 significant increase 2 cost

Question 4

Rop considers low risk factor of term policy at significant increase in premium as much as

Answer 4

20-50% more

Question 5

Rop are

Answer 5

Not taxable

Question 6

Cash value 2 called

Answer 6

Nonforfeiture value

Question 7

Allows policyowner the right to renew coverage at expiration date without evidence of insurability

Answer 7

Renewable

Question 8

Premium 1 for new term policy will be based on

Answer 8

The 1 insureds current age

Question 9

Insured will pay a premium based on

Answer 9

Attained age

Question 10

If individual purchases 10 year policy at 35

Answer 10

They pay premium based on age 45 upon renewing

Question 11

Allows policyowner to convert policy to permanent policy without evidence of insurability (based on attained age)

Answer 11

Convertible