Question 1032 of 287 · Texas Life, Accident and Health Agent Exam
A life insurance policy that endows at age 100 means
Exactly one answer is correct.
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Correct answer to question 1032
- B: the face amount is paid to the owner if the insured is still living at that age
Explanation
An endowment pays the face amount at a stated date or age if the insured is alive, or at death if earlier. Whole life is designed to mature at age 100 or later, depending on the mortality table.
More questions: Life: Types of Policies
- 1033Which of these is a characteristic of term insurance compared with whole life?
- 1034Which type of policy has a death benefit that is level and a premium that is guaranteed to stay the same for a stated number of years, after which it may increase sharply?
- 1035A policyowner wants permanent protection with the lowest possible premium that is guaranteed never to change. Which policy fits best?
- 1036Which feature of an indexed annuity or indexed life policy limits the amount of index gain that can be credited in a period?
- 1037An annuity in which the owner pays premiums as a series of payments over time before income begins is a
- 1001Which feature is characteristic of ordinary (straight) whole life insurance?