A life insurance policy that pays whether the policyholder lives or dies is called?
Tuesday, May 11th, 2010 at
1:15 am
A life insurance policy that pays whether the policyholder lives or dies is called
A. premium insurance. C. term insurance.
B. straight life insurance. D. 20-year endowment.
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D. 20 year endowment would be the best answer in there.
From Wikipedia:
"An endowment policy is a life insurance contract designed to pay a lump sum after a specified term (on its ‘maturity’) or on earlier death. Typical maturities are ten, fifteen or twenty years up to a certain age limit. Some policies also pay out in the case of critical illness."
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