The topic of life insurance can be hard to talk about, given that we generally don’t like to imagine a world where we are no longer living – but if you wish to be able to provide for your loved ones when you move on from this life, then it’s something you need to know about. What do you know about life insurance policies, provisions and more? Let’s find out.
Cash option
Flexible Premium.
Accumulation at Interest
Reduction of Premium
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A beneficiary has the right to choose a settlement option
Dividends on the policy are paid yearly.
The cash value in a policy belongs to the insured even if the policy lapses or is surrendered
The premiums on their policy will never increase
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It is valid during the insured’s lifetime only, because the death benefit is payable to the named beneficiary.
It transfers the owner’s rights under the policy to the extent expressed in the assignment form
It is the same as a beneficiary designation
It permits the beneficiary to designate the person or persons to receive the benefits
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Reduced paid-up
Cash.
Extended term
Interest
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Life income with Period Certain.
Fixed Amount
Life Income
Joint Survivor
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Whole Life
Joint and Survivor.
Juvenile Life
Universal Life
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Quiz Review Timeline (Updated): Mar 22, 2023 +
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