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Premiums for survivorship life policies are lower than for equivalent coverage in two separate policies.

An individual is classified as terminally ill if he/she has 5 years or less to live.

Most CAWL policies __________________.

A significant advantage of a split- dollar plan using survivorship life instead of a single-life policy is that:

VL has a guaranteed minimum death benefit amount and a level premium.

To meet benefit nondiscrimination rules, a plan must provide all participants with benefits at least as great as those provided to key employees

Indexed Universal Life is a hybrid of regular Universal Life and Variable Universal Life.

Most AL policies bundle the policy elements (such as mortality and expense charges and interest credits) rather than stating them explicitly.

The interest rate on policy loans is:

The policy cash value for limited-pay whole life policies initially grows more quickly than for policies with longer payment periods.