Ask Question
Social StudiesSocial Studies
16 June, 10:56

Alex's life policy lapsed, which Nonforfeiture option would the insurer send him the value of the policy?

+3
Answers (1)
  1. 16 June, 11:14
    0
    The answer is - Cash surrender

    Explanation:

    When a person does not want to drop your insurance policy, you can use a non forfeiture option.

    But this option works only, when the person has a whole life policy.

    There are three types of non forfeiture options:

    A: Cash surrender

    B: Extended term insurance

    C: Reduced paid up insurance

    So, in this scenario, the best possible option is cash surrender.

    The cash surrender amount is the total money that the insurance company will pay to Alex, as his policy is voluntarily terminated before its maturity.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Alex's life policy lapsed, which Nonforfeiture option would the insurer send him the value of the policy? ...” in 📘 Social Studies if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Fundamental attribution error is more common in ___ than it is in
Answers (1)
In order to calculate marginal cost, producers must compare the difference in the cost of producing one unit to the cost of purchasing a unit. distributing that unit. producing the next unit. producing a different unit.
Answers (1)
A ten-year bond was issued in 2019 at a discount with a call provision to retire the bonds. When the bond issuer exercised the call provision on an interest date in 2021, the carrying amount of the bond was less than the call price.
Answers (1)
The macedonian ruler who created a great empire
Answers (1)
During the colonial era, the American south developed very few urban areas, which resulted in a A) system of slavery and forced labor. B) poverty stricken region of peasants. C) strong network of roads that connected isolated areas.
Answers (2)
New Questions in Social Studies
Who determines candidates in irans elections
Answers (2)
Place the following religions in order from oldest to newest: A.) Islam B.) Christianity C.) Judaism
Answers (1)
A parent describes to a child what she should say if a stranger asks the child to get into his car. Which behavioral skills training component involves describing the correct behavior to the learner?
Answers (1)
What are the first 10 amendments to the Constitution?
Answers (1)
Which of the following accurately compares the government of the United States to that of Canada? A. The government of the United States is a constitutional monarchy, while the government of Canada is a presidential democracy. B.
Answers (1)
Home » Social Studies » Alex's life policy lapsed, which Nonforfeiture option would the insurer send him the value of the policy?
Sign Up Forgot Password?