An Insured Usually Chooses Variable Life Insurance in Order to

question 20

Multiple Choice

An insured usually chooses variable life insurance in order to

• A)provide more flexible coverage.
• B)emphasize the savings portion while still having death protection.
• C)lessen the savings feature of life insurance.
• D)substitute for fixed-dollar insurance protection.
• E)reduce insurance premiums.

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Definitions:

Limited Liability

A legal status where a person's financial responsibility is limited to a fixed amount, usually the value of their investment in a company or partnership.

Torts

Civil wrongdoings recognized by law as grounds for a lawsuit, resulting in injury or harm that constitutes the basis for a claim by the injured party.

Vicariously Liable

Legal responsibility of one party for the actions of another party, typically in an employer-employee relationship.

Formal Steps

Formal steps are specific procedures required by law or regulation to complete a legal action or process.