Describe the basic characteristics of variable life insurance.
Answer to relevant QuestionsSonja, age 25, recently purchased a $100,000 ordinary life insurance policy on her life. The waiver-of-premium rider and guaranteed purchase option are attached to the policy. For each of the following situations, indicate ...Briefly explain the following life insurance contractual provisions.a. Suicide clauseb. Grace periodc. Reinstatement clauseIn addition to cash, life insurance death benefits can be paid under other settlement options. Briefly explain the following settlement options.a. Interest optionb. Fixed-period optionc. Fixed-amount optiond. Life income ...Explain the basic defect in the traditional net cost method for determining the cost of life insurance.The states require life insurers to disclose certain policy information to applicants for life insurance. Describe the types of information that appear on a typical disclosure statement.
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