When is the face amount of a Whole Life policy paid? Archives - Management Notes

When is the face amount of a Whole Life policy paid?

November 10, 2023September 26, 2022 by Smirti Bam

When is the face amount of a Whole Life policy paid?

When is the face amount of a Whole Life policy paid?

Options:

At the policy’s maturity date only
When the insured dies or at the policy’s maturity date, whichever happens first
Only when the insured dies
When the policy is surrendered

The Correct Answer Is:

b. When the insured dies or at the policy’s maturity date, whichever happens first