Which of the Following Statements Is True Regarding the Conversion

question 53

Multiple Choice

Which of the following statements is true regarding the conversion of a 5-year term policy after it has been in force for 5 years?
I.The premium will be lower if an original-age conversion is used.
II.The policyowner will have to make a lump-sum adjustment payment if an attained-age conversion is used.

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

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Definitions:

Render Aid

The act of providing assistance or help, especially in emergency situations.

Additional Injuries

Refers to injuries that are found or diagnosed after the initial assessment or treatment of a patient or claimant, often complicating the original medical or legal case.

Inherently Dangerous

Activities or substances that, by their nature, pose a potential risk of harm or damage even when reasonable care is taken.

Strict Liability

A legal principle that holds a party responsible for damages or losses, regardless of fault or intent.