Questions: Question 4 of 75 What type of whole life insurance policy has premiums that are adjusted so that during the first years of the policy, the premiums are lower than those of a straight whole life policy, and in subsequent years the premiums are higher than those of a straight whole life policy? A. Modified life B. Indeterminate premium C. Enhanced life D. Indexed life SUBMIT ANSWER

Question 4 of 75 What type of whole life insurance policy has premiums that are adjusted so that during the first years of the policy, the premiums are lower than those of a straight whole life policy, and in subsequent years the premiums are higher than those of a straight whole life policy? A. Modified life B. Indeterminate premium C. Enhanced life D. Indexed life SUBMIT ANSWER
Transcript text: Question 4 of 75 What type of whole life insurance policy has premiums that are adjusted so that during the first years of the policy, the premiums are lower than those of a straight whole life policy, and in subsequent years the premiums are higher than those of a straight whole life policy? A. Modified life B. Indeterminate premium C. Enhanced life D. Indexed life SUBMIT ANSWER
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Solution

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The answer is the first one (A): Modified life.

Explanation for each option:

A. Modified life: This type of whole life insurance policy has premiums that are lower in the initial years and then increase after a specified period. This matches the description given in the question.

B. Indeterminate premium: This type of policy has premiums that can vary based on the insurer's current estimate of future experience, but it does not specifically describe a structure where premiums start lower and then increase.

C. Enhanced life: This is not a standard term used in the context of whole life insurance policies, and it does not fit the description provided in the question.

D. Indexed life: This type of policy ties the cash value growth to a stock market index, but it does not describe a premium structure where the premiums start lower and then increase.

Summary: The correct answer is A: Modified life, as it accurately describes a whole life insurance policy with initially lower premiums that increase in subsequent years.

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