The Policy Feature That Allows You to Pay the Premium

question 114

Multiple Choice

The policy feature that allows you to pay the premium late but still retain coverage is known as the

• A)loan clause.
• B)nonforfeiture clause.
• C)incontestability clause.
• D)grace period.
• E)policy reinstatement clause.

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Definitions:

Unemployment Rate

The rate of individuals in the labor force who have no employment but are actively trying to find a job.

Units Produced

The number of complete goods or products a company manufactures over a specific period.

On Hand

Refers to the inventory that is physically present and available for sale or use within a business.

Net Operating Income

The profit generated from a company's regular, core business operations, excluding deductions of interest and taxes.