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Life Insurance Policy
?
Which of the following must be the case once a year for a variable policy to meet the federal definition of life insurance?
the face amount must be higher than the cash value by a certain percentage.
the cash value must be higher than the face amount by a certain percentage.
the cash value and the face amount must be exactly equal
the cash value must equal zero
Show Result
Correct
- Your answer is correct.
Wrong
- Your answer is wrong.
Detailed Answer
Correct answer: (A)
the face amount must be higher than the cash value by a certain percentage.
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