If the Premium on a Term Insurance Policy Is Not

question 56

Multiple Choice

If the premium on a term insurance policy is not paid by the due date,which of the following is true?

• A)The policy is immediately terminated.
• B)The death benefit of the policy is reduced by the amount of the premium owed.
• C)The premium will be deducted from the cash value of the policy.
• D)The policyholder is given a grace period to pay after which the policy will be terminated if premium is not paid.

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Definitions:

Homophily

The tendency of individuals to associate and bond with others who are similar to themselves in characteristics such as beliefs, values, and social background.

Social Decapitalization

The process through which a community or society experiences a decline in social capital, including the erosion of networks, social trust, and norms.

Prejudiced Ideologies

Systems of belief that unfairly discriminate against or are biased towards certain groups based on irrational or unfounded reasons.

Nationalist Groups

Organizations or movements that promote the interests of a particular nation or ethnic group, often emphasizing sovereignty, self-governance, and a shared cultural identity.