Which of the Following Statements About the Waiver-Of-Premium Provision in Life

question 9

Multiple Choice

Which of the following statements about the waiver-of-premium provision in life insurance is true?

• A)Because the probability of becoming disabled exceeds the probability of premature death,the cost to include this provision is usually prohibitive at younger ages.
• B)Premiums are usually waived if the insured becomes partially disabled.
• C)Life insurance protection continues in force during a period of disability,but dividends cease and cash values are reduced.
• D)The disability must occur before a stated age,such as 65,for premiums to be waived.

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Definitions:

Need Awareness

The process of recognizing and understanding a customer's needs or problems that a product or service can solve.

FAB Selling Technique

A method focusing on the Features, Advantages, and Benefits of a product or service, highlighting its value to the customer.

Sales Presentation

A structured dialogue or demonstration aimed at persuading a potential buyer to purchase a product or service.

Trial Close

A technique used in sales to ask preliminary questions or make statements to gauge the customer's readiness to make the purchase.