All of the following are nonforfeiture options, EXCEPT: D) Settlement options. Long Term Care: Optional Benefits | Department of Financial Services \text { Wages Expense } & 137,000 & \\ Which life insurance rider typically appears on a Juvenile life insurance policy? If cash has accumulated in the policy, state law forbids companies from keeping it and cancelling the policy. P cannot assign ownership of the policy while premiums are being waived, Which of these are NOT an example of a Nonforfeiture option? All of the following are considered to be nonforfeiture options available to a policyowner EXCEPT. Please check below to know the answer. B) waiver of premium D) is injured in a skiing accident and dies 18 months later. M had an annual life insurance premium payment due January 1. B owns a Whole Life policy with a guaranteed insurability option that allows him to purchase, without evidence of insurability, stated amounts of, additional Whole Life coverage at specified times. Five years later, T commits suicide. The clause may involve returning some portion of the total premiums paid, the cash surrender value of the policy, or a reduced benefit based upon premiumspaid beforethe policy lapses. C) The entire cash value is taxable Usually, permanent life insurance generates low returns in the early years of the policy due to administrative and acquisition expenses. Which provision prevents an insurer from changing the terms of the contract with the policyowner by referring to documents not found within the policy itself? Interest for the period C) the source of funding for administration fees B) war Who the policyowner is and what rights the policyowner is entitled to. C) Incontestability All of the following are true regarding a decreasing term policy EXCEPT The insured's premiums will be waived until she is 21. Only the beneficiary may select, In a Life insurance contract, an insurance companys promise to pay stated benefits is called the. A long-term care rider in a life insurance policy pays a daily benefit in the event of which of the following? Which of these describe a participating life insurance policy? D) supplement. B) Decreases the policys cash value \text { Service Revenue } & & 598,000 \\ How many of each item is in stock? B) Age Eric's coverage is still in force because of which life insurance policy provision? Nonforfeiture clauses offer protection in the event a policyholder stops paying their premium. She is concerned, however, that if she becomes disabled she will be unable to pay the premiums as they come due. What provision can Sheila add to her policy to address this concern? computer. Must have a terminal illness to qualify. Which of these are NOT an example of a Nonforfeiture option? Assignment of ownership An analysis indicates that prepaid rent on December 31 should be $2,300. g. Salaries and Wages Expense Annuities pay regular payments as outlined in the contract. Which of these require an offer, acceptance, and consideration? One life insurance policy provision specifies that - Course Hero Past due premiums are waived