An insured purchases a 20-Pay Life Policy with a face amount of $25,000 and an annual premium of $1,000. The insured dies 15 yea

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zimovet [89]

3 years ago

8

An insured purchases a 20-Pay Life Policy with a face amount of $25,000 and an annual premium of $1,000. The insured dies 15 yea

rs later when the cash value is $5,000. What amount will the beneficiary receive

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1 answer:

Irina-Kira [14] · Answer 1 · 2022-12-01T10:25:02+03:00

The amount that the beneficiary will receive when the insured purchases a 20-Pay Life Policy with a face amount of $25,000 is $25000.

<h3>What is insurance?</h3>

Insurance simply means a means of protection from financial loss. It's risk management.

In this case, the insured purchases a 20-Pay Life Policy with a face amount of $25,000 and an annual premium of $1,000 and the insured dies 15 years later when the cash value is $5,000. The amount that the beneficiary receive is $25000.

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