QuestionAugust 18, 2025

When is the face amount of a Whole Life policy paid? A. When the insured dies or at the policy's maturity date, whichever happens first B. Only when the insured dies C. When the policy is surrendered D. At the policy's maturity date only

When is the face amount of a Whole Life policy paid? A. When the insured dies or at the policy's maturity date, whichever happens first B. Only when the insured dies C. When the policy is surrendered D. At the policy's maturity date only
When is the face amount of a Whole Life policy paid? A. When the insured dies or at the policy's maturity date, whichever happens first B. Only when the insured dies C. When the policy is surrendered D. At the policy's maturity date only

Solution
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Answer

A. When the insured dies or at the policy's maturity date, whichever happens first Explanation 1. Identify the conditions for payout Whole Life policies pay the face amount upon the insured's death or at maturity. 2. Determine the correct option The policy pays either when the insured dies or at the policy's maturity date, whichever occurs first.

Explanation

1. Identify the conditions for payout<br /> Whole Life policies pay the face amount upon the insured's death or at maturity.<br /><br />2. Determine the correct option<br /> The policy pays either when the insured dies or at the policy's maturity date, whichever occurs first.
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