Terrell is the insured under a $100,000 whole life insurance policy. Terrell's planner has recommended that the policy be replaced with a new $100,000 universal life policy on Terrell. If this replacement takes place, which of the following will result? Terrell's new policy will cover suicide immediately. Terrell's new policy will be incontestable immediately. Terrell's new policy will not require underwriting. Terrell's new policy's premium will be based on his attained age.

Terrell is the insured under a $100,000 whole life insurance policy. Terrell's planner has recommended that the policy be replaced with a new $100,000 universal life policy on Terrell. If this replacement takes place, which of the following will result? Terrell's new policy will cover suicide immediately. Terrell's new policy will be incontestable immediately. Terrell's new policy will not require underwriting. Terrell's new policy's premium will be based on his attained age.

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter5: Gross Income: Exclusions

Section: Chapter Questions

Problem 29P

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