Which of the Following Best Describes Credit Life Insurance

You might not think the idea of life insurance is something you have done many times before but when it comes to. The insured is covered during his or her entire lifetime.

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Credit life insurance prices are usually determined by the loan amount.

. Log in for more information. Which Best Describes Term Life Insurance. The insured pays the premium until his or her death.

Credit life insurance is a type of life insurance policy designed to pay off a borrowers outstanding debts if the borrower dies. Usually it starts at five years. The insured can borrow or collect the cash value of the policy.

The face value of a credit life insurance policy decreases proportionately with the outstanding loan amount as the loan is paid off over time until both reach zero value. Term life insurance covers you during the most important years of your life. You also have wide discretion whether you choose longer coverage maybe 10 to 20 years or even 25 to 30 years- whatever.

Which of the following best describes term life insurance. The insured pays a premium for a specified number of years. The insured was severely injured in an auto accident and after 10 weeks of hospitalization died from the injuries.

The insured pays the premium until his or her death. The insured pays a premium for a specified number of years. The insured is covered during his or her entire lifetime.

Term life insurance is a type of life insurance policy that offers a specified period of coverage. - best describes term life insurance. Which of the following best describes term life insurance.

The insured pays a premium for a specified number of years. Which of the following best describes credit life insurance. The insured can borrow or collect the cash value of the policy.

Which Of The Following Best Describes Term Life Insurance Weegy. Term life insurance is a type of insurance that provides coverage for a predetermined length of time. Jan 28 2019 Term life insurance is a simple affordable type of life insurance policy that covers you for a set period of time called the term which 5.

The insured pays a premium for a specified number of years. B It is a rating organization for health insurance. The insured is covered during his or her entire lifetime.

A A mutual fund and an endowment policy b A term insurance policy and a whole life policy c A modified endowment policy and an annual term insurance policy d A flexible premium deposit fund and a monthly renewable term insurance policy. The insured is covered during his or her entire lifetime. The insured can borrow or collect the cash value of the policy.

A A death benefit is not payable but cash value is generated b A death benefit is payable but there is no cash value c Premiums based on 1000 of insurance are higher overall than other types of policies d A living insured receives the funds. Which of the following combinations best describe a universal life insurance policy. Which of the following best describes term life insurance.

This answer has been confirmed as correct and helpful. Which of the following best describes term life insurance. The policy contained an accidental death rider offering a double indemnity benefit.

Which statement best defines credit life insurance. It does not cover any medical or financial risks after the term ends. This kind of life insurance allows you to decide on the coverages length.

The insured pays a premium for a specified number of years. First of all this is one of the best life insurance plans for your need and budget. On the other hand whole life insurance covers you for your entire life but will end up having a larger financial cost associated with it.

A It is a member organization that protects insured against insolvent insurers. Added 103 days ago11302021 32324 PM. Furthermore the credit life insurance quote is influenced by elements such as the type of credit and the type of coverage.

A flexible premium deposit fund and a monthly renewable term insurance policy The insurance coverage in a variable life insurance policy may vary based on the value of. The insured pays the premium until his or her death. The best time to open a term life insurance policy is when youre expecting to make a big life decision.

The insured can borrow or collect the cash value of the policy. The insured can borrow. Which of the following best describes term life insurance 1 answerThe following best describes term life insurance.

Credit life insurance on the other hand will cost more than regular life insurance due to the higher risk involved with the product. The insured pays the premium until his or her death. The insured pays a premium for a specified number of years best describes the term life insurance.

An insured purchased a 15-level term life insurance policy with a face amount of 100000. The insured pays a premium for a specified number of years. C It is a nonprofit organization that maintains underwriting information on.

Which of the following best describes a term a term insurance policy. Which of the following combinations best describe a universal life insurance policy. As the debt is paid off over time the face value of a credit life insurance policy declines proportionately with the outstanding loan amount until both approach zero.

Which of the following best describes the MIB. Credit life insurance is a form of life insurance coverage that pays out a borrowers outstanding obligations in the event that the borrower passes away.

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Credit Life Insurance