Oscar Porter purchased a $50,000 ten-year renewable term life insurance policy. This information indicates that Mr....

Oscar Porter purchased a $50,000 ten-year renewable term life insurance policy. This information indicates that Mr. Porter will have the right, within specified limits, to renew his insurance coverage at the end of the ten-year term

at the same premium rate he was charged for the original ten-year term policy

after first undergoing a required medical examination

for a one-year term, but not for another ten-year term

without having to submit evidence of his insurability

Solutions

Expert Solution

It is option D

Option A is incorrect since the premium will be higher based on age

Option B is wrong since it is not required to undergo examination

Option C is incorrect since it for 10 years and not 1 year

jeff jeffy answered 1 year ago

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