For which of the following policies would an insurer need to explain how relatively high premiums and possible anticipated generous dividends could allow the insured to not pay premiums after a certain point?

a. Variable Universal Life

b. Vanishing Premium policy.

c. Decreasing Premium Policy.

d. Endowment policy

Answer: B

Insurance

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In an insurance contract, the applicant's "consideration" is the
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The voluntary relinquishment of a legal right is called
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