Which of the Following Statements About the Change of Plan

question 15

Multiple Choice

Which of the following statements about the change of plan provision in a life insurance contract is (are) true?
I.A change to a lower premium policy results in a refund of the difference in the cash values of the two policies.
II.A change to a higher premium policy requires evidence of insurability.

• A)I only
• B)II only
• C)both I and II
• D)neither I nor II

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Definitions:

Collectivism

A cultural value that prioritizes group cohesion and solidarity over individual interests.

Social Acceptance

The act of being recognized, valued, and embraced by others within a social context or group.

Group Harmony

The state of agreement, peace, and unity within a group, where members often prioritize collective well-being over individual desires.

Happiness Levels

A measure of well-being or joy in individuals or groups, often influenced by various personal, social, and environmental factors.