Which of the following statements about the reinstatement provision is true?
A It permits reinstatement within 10 years after a policy has lapsed.
B It provides for reinstatement of a policy regardless of the insured's health.
C It guarantees the reinstatement of a policy that has been surrendered for cash.
D It requires the policyowner to pay all overdue premiums with interest before the policy is reinstated.
D It requires the policyowner to pay all overdue premiums with interest before the policy is reinstated.
Upon policy reinstatement, the policyowner will be required to pay all back premiums plus interest, and may be required to repay any outstanding loans and interest.
You might also like to view...
When all the different stages of a supply chain work toward the objective of maximizing total supply chain profitability, rather than each stage devoting itself to its own profitability without considering total supply chain profit, it is known as
A) supply chain coordination. B) forecasting. C) aggregate planning. D) revenue management.
What is the 3-month moving average forecast for January?
Given the following data on hotel check-ins for a 6-month period: July: 70 rooms August: 105 rooms September: 90 rooms October: 120 rooms November: 110 rooms December: 115 rooms
Even after adjusting for risk, ________ firms have, over long periods of time, earned higher returns than ________ firms
A) small; large B) large; small C) new; old D) old; new
Which of the following was created by Caterpillar Inc. to preserve the knowledge of its retiring executives and experts?
A) CAT Bank B) CAT Nine C) CAT U D) CAT Knowledge Network