In Whole Life Insurance Contracts, the _____

question 37

Multiple Choice

In whole life insurance contracts, the _____.

• A) rate of the premiums to be paid decreases if the face value increases
• B) loan value decreases as the age of the policy increases
• C) insurer pays the face value of the policy on the death of the insured
• D) loan value developed by the contract enables the insurer to borrow money from the insured

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Definitions:

Feedforward Control

Feedforward control is a proactive management process that aims to anticipate and prevent potential problems before they occur by setting up policies and procedures.

Benchmarking

The act of evaluating company processes and performance indicators against the highest industry standards or successful practices from different organizations.

Crisis Management Program

A structured approach to dealing with, preparing for, and mitigating any unexpected or dangerous situation that affects an organization, its stakeholders, or the general public.

Plan

A detailed proposal for doing or achieving something, typically involving the arrangement and coordination of activities and resources.