Page 36 - Life Assurance
P. 36
14) Explain the following beneficiary
designations.
a. Primary and contingent beneficiary.
b. Revocable and irrevocable beneficiary.
c. Specific and class beneficiary.
15) a. Describe the policy loan provision that
appears in a typical cash-value life insurance
policy?
b. Why is interest charged on a policy
loan?
c. List the advantages and disadvantages
of a policy loan.
16) Briefly explain the following non-
forfeiture options that are found in a typical life
insurance policy.
a. Cash value option.
b. Reduced paid- up Insurance.
100 Life41/life/life 08
designations.
a. Primary and contingent beneficiary.
b. Revocable and irrevocable beneficiary.
c. Specific and class beneficiary.
15) a. Describe the policy loan provision that
appears in a typical cash-value life insurance
policy?
b. Why is interest charged on a policy
loan?
c. List the advantages and disadvantages
of a policy loan.
16) Briefly explain the following non-
forfeiture options that are found in a typical life
insurance policy.
a. Cash value option.
b. Reduced paid- up Insurance.
100 Life41/life/life 08
