BERT IS THE OWNER AND INSURED OF A TRADITIONAL WHO...

California Life Accident And Health Insurance State Exam Questions And Answers

Question Number 32

BERT IS THE OWNER AND INSURED OF A TRADITIONAL WHOLE LIFE INSURANCE POLICY HE PURCHASED 20 YEARS AGO. HE HAS NEVER MISSED A PREMIUM PAYMENT. HE WOULD LIKE TO BUY A NEW CAR BUT HIS BANK ACCOUNT IS RUNNING LOW. HOW CAN HE OBTAIN THE NECESSARY FUNDS WHILE STILL MAINTAINING COVERAGE?AREDUCE THE POLICY'S FACE AMOUNT WHICH WILL REDUCE HIS PREMIUM PAYMENTBSURRENDER PART OF THE POLICY AND FOR THE BALANCE TAKE A POLICY LOANCSURRENDER THE POLICY BACK TO THE INSURERDTAKE A POLICY LOAN FROM THE INSURER

DTAKE A POLICY LOAN FROM THE INSURER

✔ Correct Answer:

DTAKE A POLICY LOAN FROM THE INSURER

California Life Accident And Health Insurance State Exam Questions And Answers

Question Number 32

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