Which of the Following Policy Features Allows the Insured to Increase

question 50

Multiple Choice

Which of the following policy features allows the insured to increase coverage periodically without showing proof of insurability?

• A) Multiple indemnity clause
• B) Guaranteed purchase option (GPO)
• C) Disability clause
• D) Viatical settlement
• E) Accelerated benefits

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Definitions:

Optimal Solution

The most efficient, effective, or desirable solution to a problem or the best decision given the constraints.

Total Cash

The overall amount of liquid assets available to an individual or organization.

Price/demand Elasticity

A measure of how much the demand for a product changes in response to a change in its price.

Continuous Values

Numerical data that can take any value within a specified range, often associated with measurements.