Question 2038 of 287 · Texas Life, Accident and Health Agent Exam
Premium payment for a 'flexible' premium policy means that
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Correct answer to question 2038
- C: the owner chooses the amount and timing of premiums within limits
Explanation
Flexible premium products such as universal life allow the owner to adjust premiums, but the policy must hold enough value to cover monthly charges or it can lapse.
More questions: Life: Riders, Provisions, Options and Exclusions
- 2001A waiver of premium rider on a life policy provides that
- 2002A guaranteed insurability rider allows the insured to
- 2003A payor benefit rider is most often attached to a policy on
- 2004An accidental death benefit rider pays the additional amount if
- 2005Accidental death and dismemberment (AD&D) coverage pays the principal sum for
- 2006A cost-of-living rider on a life insurance policy provides