rob purchased a standard whole life policy with a 500 000 death benefit when he was age 30. his insurane agent told him the policy would be paid if he reached age 100. the present cash value of the policy equals 250 000. rob recently died at age 60 the death benefit would be

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04-03-2022
Business

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rob purchased a standard whole life policy with a 500 000 death benefit when he was age 30. his insurane agent told him the policy would be paid if he reached age 100. the present cash value of the policy equals 250 000. rob recently died at age 60 the death benefit would be

Sagot :

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Tundexi Tundexi · Answer 1 · 2022-03-11T05:58:23-05:00

The amount death benefit that the beneficiary of Rob would be receive is less or equals to the present cash value which is $250,000.

What is death benefit in Life assurance?

In life insurance, the death benefit payable at death on a standard whole life policy equals the cash value (present cash value) of the sum assured, less operating expenses, tax etc.

Therefore, the amount death benefit that the beneficiary of Rob would be received is less or equals to the present cash value which is $250,000.

Sagot :

What is death benefit in Life assurance?

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