Question

paul is the policyowner of a life insurance policy which will increase significantly in face amount (death benefit) when the insured reaches an age specified in the policy. this policy is referred to as a
a. jumping juvenile policy.
b. single premium policy.
c. modified life insurance policy.
d. limited pay whole life policy.

Explanation:

A jumping juvenile policy is a life - insurance policy where the face amount (death benefit) increases significantly when the insured reaches a specified age. A single - premium policy is paid for with one large payment. A modified life insurance policy has adjusted premiums over time. A limited - pay whole life policy has a set number of premium payments.

Answer:

A. Jumping juvenile policy