Which of the Following Factors Is Connected with Convertible Term

question 163

Multiple Choice

Which of the following factors is connected with convertible term life insurance?

• A)A medical exam is not required.
• B)It helps make a smooth transition from term to cash-value insurance.
• C)There is a corresponding increase in premium cost.
• D)Generally,the conversion feature is only offered during the first two years.
• E)All of the above

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Definitions:

Cheque

A bill of exchange that is drawn on a banking institution, and payable on demand.

Drawer

In the context of banking and finance, a drawer is the person who writes or issues a check, directing a bank to pay the stated amount from the drawer's account.

Payee

The individual or entity to whom money is payable or is meant to be paid, typically named in financial documents like checks or promissory notes.

Certification

Of a cheque, an understanding by a bank to pay the amount of a cheque on presentation.