Which of the Following Is a Characteristic of Longevity Insurance

question 43

Multiple Choice

Which of the following is a characteristic of longevity insurance?

• A)payment of the face value of the policy at age 100
• B)forfeiture of the purchase price if the annuitant dies during the deferral period
• C)cash value can be borrowed or recouped through a nonforfeiture option
• D)high-cost annuity compared to other life annuities

Identify the unique aspects of managing different responsibility centers within decentralized operations.

Understand the role and effectiveness of deliberate and automatic systems in achieving goals.

Grasp the concept of self-regulation and its importance in adapting to various circumstances.

Comprehend the accuracy of self-evaluation in goal setting.

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Definitions:

Finance Charge

The total cost of borrowing, including interest and any other charges assessed by the creditor.

Monthly Interest Rate

The percentage of interest that is calculated and applied on a monthly basis to loans, savings, or investments.

Amortizes

The process of gradually paying off debt through a series of fixed payments over time, which covers both interest and principal.

Monthly Payments

Regular payments made over a period of time towards settling a debted amount, often associated with loans or lease agreements.