Multiple Choice QuestionAn endowment life insurance policy pays the policyholder money at the maturity date, whereas a traditional policy pays the beneficiaries Blank______.Multiple choice question.upon death of the insured10 years after deathat the maturity date5 years after death
Question
Multiple Choice QuestionAn endowment life insurance policy pays the policyholder money at the maturity date, whereas a traditional policy pays the beneficiaries Blank______.Multiple choice question.upon death of the insured10 years after deathat the maturity date5 years after death
Solution
The correct answer is "upon death of the insured". This is because a traditional life insurance policy pays out to the beneficiaries when the insured person dies, not at a set time after death or at a maturity date like an endowment policy.
Similar Questions
Multiple Choice QuestionWhich policy provides coverage from the beginning of the contract to the maturity date and then pays a specified lump sum regardless of if the person is still living or has died?Multiple choice question.endowment life insurancelump sum insurancereimbursement insurancepay up insurance
Multiple Choice QuestionMost American families face a substantial loss when one spouse dies Blank______.Multiple choice question.with a good life insurance policyof old ageunexpectedlyafter an illness
Multiple Choice QuestionWhich type of insurance provides liquidity at the time of death?Multiple choice question.car insurancemedical insurancelife insurancemajor medical insurance
Multiple Choice QuestionAge, marital status, and dependency requirements are usually specified in the Blank______ provision of an insurance policy.Multiple choice question.short-termeligibilitydetailedspecifics
A plan where the policyholder pays the same premium for as long as they live is called a(n):Multiple choice question.
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.