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9 Cards in this Set
- Front
- Back
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In a case where the premium has not been paid and the cash values has been exhausted, the policy can still avail of the grace period. |
F |
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According to the law of large numbers, events which happen seemingly by chance will actually be bound to follow a predictable pattern, if enough such happenings are observed. |
T |
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Anti-selection occurs when persons in poor health wish to buy insurance. |
T |
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A policy is still in force for the full face amount and will remain in force for a further period of four years and 118 days, without the payment of any premiums has availed of paid up insurance option. |
F |
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A policy that provides guaranteed cash values plus extra annual distributions and pays the insured after a specified time is known as a participating endowment. |
T |
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In a group insurance it is assumed that every member of the group is insurable, provided that every member of the group is working a minimum number of (usually 50 hours) each week. |
F |
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An endowment at age 65 policy with premium payable for a limited period of 20 years pays the full amount after 20 years. |
F |
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In most life insurance applications, the largest amount of information requested is data which identifies the applicant. |
F |
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A policy is not rendered void by reason of misstatement of the assured’s death. |
T |
