If a Provision for an Accidental Death Benefit Is Attached

question 1

Multiple Choice

If a provision for an accidental death benefit is attached to a whole life insurance policy,then this provision is referred to as a:

• A)rider.
• B)waiver of premium.
• C)automatic premium loan.
• D)beneficiary.
• E)incontestability clause.

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Definitions:

Current Assets

Assets that are expected to be converted into cash, sold, or consumed within one year or a business cycle, whichever is longer.

Purchasing Control

The process of managing and regulating the buying of goods and services for an organization, to ensure that products are purchased cost-effectively and meet the required standards.

Supplier-Purchaser Relationships

The dynamic between businesses that provide products or services and their customers or clients, focusing on transactional exchanges, trust, and long-term partnerships.

Leveraging Buying Power

Utilizing an organization's or individual's ability to negotiate better terms through the strategic use of their purchasing capacity.