Question

All the following statements concerning term insurance are correct EXCEPT: Group of answer choices Most policies can be renewed for additional periods without evidence of insurability. Most policies can be converted to a permanent life insurance policy. Most policies have a nonforfeiture benefit to refund a portion of a policy's cash value when coverage stops. The insurance provides protection for a certain period of time.

Answer 1

Answer: Most policies have a nonforfeiture benefit to refund a portion of a policy's cash value when coverage stops.

Explanation:

Term insurance is a type of life insurance policy whereby the policy owner will be given coverage for a particular time period.

It should be noted that term insurance can be renewed for additional periods without evidence of insurability and can also be converted to a permanent life insurance policy.

The option that most policies have a nonforfeiture benefit to refund a portion of a policy's cash value when coverage stops is not true.