You Are Least Likely to Favor Added Points Over a Higher

question 112

Multiple Choice

You are least likely to favor added points over a higher contract rate if you are

• A)likely to move in a few years.
• B)a high income individual.
• C)likely to remain in the home for the duration of the mortgage.
• D)a low income individual.

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Definitions:

Insurer Payment

The money paid by an insurance company to a claimant or policyholder in the event of a loss covered by the policy.

Incontestability Clause

A provision in a life insurance policy stating that after a certain period of time, the insurer cannot contest the statements in the application.

Insurance Application

A formal request for coverage submitted to an insurer, detailing the terms and conditions.

Fraud Investigation

The process of examining activities to identify and investigate instances of fraudulent conduct.