The Waiver of Premium Option Can Result in the Savings

question 11

True/False

The waiver of premium option can result in the savings value of a life insurance policy increasing, even if no premiums are currently being paid.

Grasp the evolutionary rationale for why individuals affiliate with groups.

Illustrate how uncertainty-identity theory explains group identification under conditions of uncertainty.

Describe how existential threats, such as reminders of mortality, influence group cohesion and identity.

Understand the role of social identity theory in explaining group behavior and self-definition.

---

Definitions:

Pension Plan

Pension Plan is a type of retirement plan where an employer contributes to a pool of funds set aside for employees' future benefit, distributed upon retirement.

Single Life Annuity Contract

An insurance policy that provides a fixed or variable payment to an annuitant at regular intervals for their lifetime.

Tax-free Amount

An amount or income received that is not subject to income tax by the taxpayer.

Qualified Pension Plan

A retirement plan that meets the requirements of the Internal Revenue Code, offering tax benefits to the entity that establishes the plan and its participants.