Which of the following is INCORRECT regarding a $100,000 20-year level term policy?
A. The policy premiums will remain level for 20 years
B. If the insured dies before the policy expired, the beneficiary will receive $100,000
C. The policy will expire at the end of the 20-year period
D. At the end of 20 years, the policy's cash value will equal $100,000

Question

06-12-2022
Mathematics

contestada

Which of the following is INCORRECT regarding a $100,000 20-year level term policy?
A. The policy premiums will remain level for 20 years
B. If the insured dies before the policy expired, the beneficiary will receive $100,000
C. The policy will expire at the end of the 20-year period
D. At the end of 20 years, the policy's cash value will equal $100,000

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abhinavjh321 abhinavjh321 · Answer 1 · 2022-12-13T10:20:33+01:00

D. At the end of 20 years, the policy's cash value will equal $100,000 is INCORRECT regarding a $100,000 20-year level term policy.

A $100,000 20-year level term policy is a type of life insurance policy that provides a fixed amount of coverage for a set period of time. The premiums for this policy will remain level for the entire 20 years and, if the insured dies during that time, the beneficiary will receive the full $100,000. However, the policy will expire at the end of the 20-year period and the cash value will not equal the $100,000. As a result, it is untrue to say that $100,000 will be the policy's cash value after 20 years.

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