The Clause in a Life Insurance Policy That Permits an Insured

question 14

Multiple Choice

The clause in a life insurance policy that permits an insured to pay the premium after the due date is the

• A) coinsurance clause.
• B) grace period clause.
• C) nonforfeiture clause.
• D) insurable interest clause.

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Definitions:

Income Mobility Studies

Research focused on analyzing the movement of individuals or groups within the income distribution over time, assessing the ability to change economic status.

Privately Sponsored

Funded or supported primarily by private individuals, companies, or organizations rather than by the government or public entities.

Government Sponsored

Refers to initiatives, programs, or enterprises financially supported or backed by government entities.