Explanation:
The ability to invest premium money in a variety of investment opportunities is a significant benefit of variable life insurance. Variable life insurance provides the beneficiary with permanent protection. Usually, the most expensive cash-value policy is variable life.
Explanation:
In a limited-pay life insurance policy, the insured will pay the premiums over a certain period of time, but the coverage will last until the insured's death. Depending on the carrier, these payments are often spread out over 10, 15, or 20 years.
Explanation:
Potential Insureds who want a fixed premium and need permanent insurance. The best candidates for interest-sensitive whole life insurance are individuals who require protection beginning as early as infancy and need it for their entire lives. The fact that the price won't change despite changes in health during the length of the policy is a key selling point for this coverage.
Explanation:
The policyholder's entire life will be covered by a standard whole life insurance policy. The policy will stay in effect until the insured passes away as long as the insured continues to pay the premiums. The beneficiary designated on the policy will receive the benefits of the policy at the time of the policyholder's passing.
Explanation:
A life change does not necessitate the insured of an adjustable life insurance policy to buy more coverage or to terminate. With the condition of canceling the policy, an adjustable life insurance policy will allow the insured to change the policy's limits, premiums, and other details. A change the insured needs to the initial policy may also necessitate the policyholder purchasing extra coverage or policies under other types of life insurance. The provisions of the adjustable life insurance policy do not include this additional coverage need.
Explanation:
The ability to invest premium money in a variety of investment opportunities is a significant benefit of variable life insurance. Variable life insurance provides the beneficiary with permanent protection. Usually, the most expensive cash-value policy is variable life.
Explanation:
A portion of the premium previously paid to the carrier would be collected by the insured. The insured could revoke coverage under traditional whole life policies' cash surrender clause. A portion of the amount the insured previously paid for the policy would be recoverable from the carrier.
