Which Of The Following Are The Features Of A Variable Life Insurance Policy?

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Which of the following are the features of a variable life insurance policy quizlet?

Variable life policies have fixed, level premiums. Variable life policies guarantee a minimum death benefit, which is why premiums are fixed and level.

What is a variable whole life insurance policy?

Like whole life, Variable Life provides life -long protection with death benefits, fixed premiums, and builds up cash value. This policy remains in place for the whole life of the insured individual unless the policy lapses or is cancelled.

What is a variable premium feature?

With a variable universal life insurance policy, the policyholder has the flexibility to choose payment arrangements, vary the amount or timing of premium payments, and generally exercise more freedom over how to manage the cash value and premium obligations of the insurance policy.

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Which of the following is true with regards to a variable universal life policy?

The correct answer is: FINRA representative license and Life license. Which of the following is true with regards to a Variable Universal life policy? Variable Universal Life Polices allow the policyowner to control the investment of cash values and select the timing and amount of premium payments.

What is the greatest risk in a variable life insurance policy?

The greatest risk in a variable life insurance policy is that the policyholder assumes the full risk of their investments. The insurance company doesn’t guarantee any rate of return, and doesn’t offer protection for investment losses.

What are the two components of a universal policy?

How Does Universal Life Insurance Work? Universal policy premiums include two components: the cost of insurance amount and the savings component amount, also known as the cash value.

Is Variable Life Insurance Taxable?

Variable life insurance policies have specific tax benefits, such as the tax -deferred accumulation of earnings. Provided the policy remains in force, policyholders may access the cash value via a tax -free loan.

Who among the following is most likely to buy variable life insurance?

Solution(By Examveda Team) Knowledgeable people comfortable with equity is most to buy variable life insurance. Variable life insurance is a permanent life insurance policy with an investment component. The policy has a cash value account, which is invested in a number of sub-accounts available in the policy.

What is the difference between whole life and variable life insurance?

Whole life insurance and variable life insurance are permanent life insurance policies. Whole life insurance has level premiums and death benefits. In addition, the account can accumulate a cash value but cannot be invested. Similarly, variable life insurance allows for the accumulation of cash value.

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What is variable contract?

Variable Contract means a policy or contract that provides life insurance or annuity benefits that may vary according to the investment experience of any separate account or accounts maintained by the insurer as to the policy or contract, as provided for in Sections 31A-5-217 and 31A-18-102.

Which of the following is a feature of variable annuity?

A typical variable annuity offers three basic features not commonly found in mutual funds: tax-deferred treatment of earnings; a death benefit; and. annuity payout options that can provide guaranteed income for life.

How does variable life work?

Variable life insurance is a form of life insurance. Like other life insurance, it provides a death benefit that may be significantly larger than the amount of premiums you pay. With a variable life insurance policy, you will be required to pay premiums into an account.

What benefit does the payer clause?

The Payor clause of an insurance policy on a juvenile provides which of the following benefits? Answer: “A waiver of premiums if the payor becomes disabled”. The Payor clause of a juvenile life policy provides a waiver of premiums if the payor becomes disabled.

What kind of life policy either pays the face?

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Which statement about a whole life policy is correct? Cash value may be borrowed against
What kind of life policy either pays the face value upon the death of the insured or when the insured reaches age 100? whole life

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What term policy means?

Term insurance is a type of life insurance policy that provides coverage for a certain period of time or a specified ” term ” of years. If the insured dies during the time period specified in a term policy and the policy is active, a death benefit will be paid.

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