paul is the policyowner of a life insurance policy which will increase significantly in face amount (death…

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\na. single premium policy.\nb. jumping juvenile policy.\nc. modified life insurance policy.\nd. limited pay whole life policy.

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\na. single premium policy.\nb. jumping juvenile policy.\nc. modified life insurance policy.\nd. limited pay whole life policy.

Answer

Brief Explanations:

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