All of the following statements are true regarding an Ordinary (Straight) Life policy EXCEPT:

A. It does not have a guaranteed death benefit.
B. If the insured lives to age 100, the policy matures, and the face amount is paid to the insured.
C. It builds cash value.
D. It is funded by a level premium.

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GinnyAnswer GinnyAnswer · Answer 1 · 2024-07-11T01:33:46-04:00

An Ordinary (Straight) Life policy lacks a guaranteed death benefit, while offering cash value build-up and being funded by a level premium.

An Ordinary (Straight) Life policy does not have a guaranteed death benefit.

If the insured lives to age 100, the policy matures, and the face amount is paid to the insured.

It builds cash value and is funded by a level premium.

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