Which Life Insurance Policy Provision Specifies That It Is the Policyholder,and

question 11

Multiple Choice

Which life insurance policy provision specifies that it is the policyholder,and not the insured or beneficiary,who possesses all contractual rights while the policy is in force?

• A)nonforfeiture options
• B)entire contract clause
• C)incontestable clause
• D)ownership clause

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Definitions:

Target Customers

A specific group of consumers at whom a company aims its products and services, identified by characteristics like age, gender, income, and interests.

Demographics

The statistical characteristics of human populations, such as age, gender, income, and education, used especially to identify consumer markets.

Tapestry Analysis

A method of consumer segmentation that uses demographic and geographic data to identify, understand, and target specific consumer groups based on their behaviors, preferences, and needs.

Upper-Income

Refers to individuals or households that earn more than the average income level, often associated with higher purchasing power and consumption patterns.