Michael Glock was the policyowner-insured of a $50,000 participating whole life insurance policy with a $50,000 accidental death benefit (ADB) rider. Mr. Glock's $750 annual premium was due on March 13, 2015. On March 24, Mr. Glock was killed in an automobile accident. At the time of his death he had not yet paid his overdue premium. Also at the time of his death, his policy had $3,400 in accumulated policy dividends, including interest, left on deposit with the insurer, and a $2,500 outstanding policy loan. This information indicates that the total death benefit payable to the beneficiary of Mr. Glock's policy wasa.$46,750
b.$50,150
c.$100,150
d.$96,750
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Michael Glock was the policyowner-insured of a $50,000 participating whole life insurance policy with a $50,000 accidental death benefit ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Eleven baseballs are randomly selected from the production line to see if their stitching is straight. Over time, the company has found that 98.3% of all their baseballs have straight stitching.
Answers (1)
When writing about the effects, or impact, of the 1969 moon landing, which organizational pattern would be most effective?
Answers (1)
Skills USA conducts various programs for its members, such as career safe, career education program, and the presidents what?
Answers (1)
Over the last five years John's salary has risen in nominal terms from $50,000 to $63,814. Over those same five years, inflation has averaged 2% per year, each year.
Answers (1)
What is a line of credit and how does it work?
Answers (1)
New Questions in Business
Paladin Furnishings generated $2 million in sales during 2016, and its year-end total assets were $1.7 million.
Answers (1)
The periodic expense created by allocating the cost of plant and equipment to the periods in which they are used, representing the expense of using the assets, is called: Multiple Choice The expense recognition (matching) principle. A contra account.
Answers (1)
April 1 purchased land for $2,160,000. may 1 sold equipment that cost $1,020,000 when purchased on january 1, 2014. the equipment was sold for $612,000.
Answers (1)
In Keynes's liquidity preference theory, what variables determine the demand for real money balances? A. The demand for real money balances depends on the interest rate and net exports. B.
Answers (1)
Which of the following is NOT one of the strategies incorporated in the Sarbanes-Oxley Act of 2002? (A) Establish compliance programs (B) Establish ethics programs (C) Dictate maximum compensation levels (D) Attain greater board independence
Answers (1)