Management Notes

Reference Notes for Management

Q would like to purchase $100,000 of permanent protection on his wife and $50,000 of Term coverage on himself under the same policy. What kind of policy should Q purchase?

Q would like to purchase $100,000 of permanent protection on his wife and $50,000 of Term coverage on himself under the same policy. What kind of policy should Q purchase?

Q would like to purchase $100,000 of permanent protection on his wife and $50,000 of Term coverage on himself under the same policy. What kind of policy should Q purchase?

 Options:

  1. Joint Policy
  2. Joint survivor policy
  3. Whole life policy with other insured rider
  4. Whole life policy with a Guaranteed Insurability option

The Correct Answer Is:

c. Whole life policy with other insured rider

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