BUISENESS MANAGEMENT
INSURANCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Social insurance
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Life insurance
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Surety bonds
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Liability insurance
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Detailed explanation-1: -Juvenile insurance may be sold with a payor benefit rider, which provides for waiving future premiums on the child’s policy in the event of the death of the person who pays the premium.
Detailed explanation-2: -Variable policies are considered securities contracts because of investment risks. Variable life insurance is often more expensive than other life insurance products, like term life.
Detailed explanation-3: -Which type of life insurance is normally associated with Payor Benefit rider? Juvenile Insurance. A Payor Benefit Rider waives the premium ONLY in connection with juvenile insurance.
Detailed explanation-4: -Term life insurance guarantees payment of a stated death benefit to the insured’s beneficiaries if the insured person dies during a specified term.