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PolarNik [594]
4 years ago
6

M purchases a $70,000 Life Insurance Policy with premium payments of $550 a year for the first 5 years. At the beginning of the

sixth year, the premium will increase to $800 per year but will remain level thereafter. The face amount will remain at $70,000 throughout the life of the policy. The type of policy that M has purchased is?
Business
1 answer:
MaRussiya [10]4 years ago
8 0
<span>This is a modified premium life insurance policy. In this case, the premium (the price paid for the insurance during each time period) is fixed for a specific frame (at rates that are usually lower than average), but then (usually) increases after a certain number of months or years to a rate greater than the average.</span>
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Explanation:

Please check attachment for the solution to the question.

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4 years ago
How does a history of colonization in sub-saharan africa influence sustainable economic development in the region today?.
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2 years ago
The following cost behavior patterns describe anticipated manufacturing costs for 2013: raw material, $7.60/unit; direct labor,
Advocard [28]

Answer: The answer is as follows:

Explanation:

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3 years ago
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