Another Name for Permanent Life Insurance Is

question 46

Multiple Choice

Another name for permanent life insurance is

• A) Whole life.
• B) Renewable term.
• C) Conversion term.
• D) Decreasing term.
• E) Return-of-Premium term.

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Definitions:

Article 3

A section of the U.S. Constitution that establishes the judicial branch of the federal government, outlining the powers and structure of the Supreme Court and other federal courts.

Negotiable Instruments

Financial instruments, such as checks, promissory notes, and bills of exchange, that contain an unconditional promise or order to pay a specified amount of money and are transferable by endorsement.

UCC

All commercial exchanges in the United States are regulated by the comprehensive legal framework known as the Uniform Commercial Code.

Third Party

An entity that is not directly involved in a legal transaction or agreement but may be affected by it or have an interest in it.