17) Lionel purchased a $200,000 ordinary life insurance policy when he was 25 years old and...
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17) Lionel purchased a $200,000 ordinary life insurance policy when he was 25 years old and had significant life insurance needs. Now Lionel is 35. His mortgage is almost paid-off, but he and his wife had two more children so his life insurance needs have increased. Due to some medical issues, Lionel is concerned he may not qualify to purchase additional life insurance. What dividend option on his current $200,000 policy would you recommend for Lionel? A) accumulation at interest B) reduced paid-up insurance C) paid-up additions D) extended term insurance 17) Lionel purchased a $200,000 ordinary life insurance policy when he was 25 years old and had significant life insurance needs. Now Lionel is 35. His mortgage is almost paid-off, but he and his wife had two more children so his life insurance needs have increased. Due to some medical issues, Lionel is concerned he may not qualify to purchase additional life insurance. What dividend option on his current $200,000 policy would you recommend for Lionel? A) accumulation at interest B) reduced paid-up insurance C) paid-up additions D) extended term insurance
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