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4 Cards in this Set
- Front
- Back
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scheduled premium variable life |
With scheduled premium variable life there is a guaranteed minimum death benefit, but also a variable death benefit and cash value that would be expected to grow over long periods based on the market performance of the separate account. |
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Between whole life and variable life, which of the following provisions would be distinct? |
Reinstatement |
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Variable life and traditional whole life share all of the following characteristics . |
A. premiums are payable for life B. insurer liability reserves are maintained in the general account C. both have a fixed, level premium |
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Accessing the cash values of a scheduled premium variable life policy |
At least 75% of the cash value may be borrowed if the policy has been in force for at least 3 years. |
