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. single premium policy.
b. jumping juvenile policy.
c. modified life insurance policy.
d. limited pay whole life policy.

Explanation:

A jumping juvenile policy is a type of life - insurance policy where the face amount (death benefit) increases significantly when the insured reaches a specified age, usually a certain age of maturity like 21 or 25. A single - premium policy is paid for with one large payment. A modified life insurance policy has adjusted premium payments in the early years. A limited - pay whole life policy has a set number of premium payments over a specific period.

Answer:

B. jumping juvenile policy