Options

Which nonforfeiture option allows a policyowner to use the existing cash value to purchase a policy of the same face amount as the original policy for as long as the policy will buy?

• paid-up additions

• cash payment

• extended term

• accumulation at interest

All of the following are dividend options in life insurance policies EXCEPT

• interest only

• cash payment

• paid-up addition

• reduction of premium payments

What is the default dividend option when the policyowner neglects to select an option?

• cash payment

• paid-up additions

• extended term

• accumulation at interest

Juan's annual premium for 2024 is $3,250. His received dividend is $615. What is the future annual premium?

• $2650

• $2,365

• $2,536

• $2,635

Leah owns a participating whole life policy and she uses the policy dividends to buy more of the same type of coverage for herself. Leah has chosen the

• cash payment option

• nonforfeiture options

• Paid-up additions option

• one year term option

Who issues participation policies?

• Money Insurers

• Mutual Insurers

• Stock Insurers

• All Insurers

Sally is seeking a dividend option that can be invested and grow in value. The dividend earns a rate specified in the policy. As the agent, which option is she seeking?

• reduction of interest option

• cash payment option

• Interest only option

• accumulation at interest option