Question

When a life insurance policy application is completed, a policy summary must be given to an applicant.The policy summary must include ______.

Answer 1

Conditions, coverage limitations and premiums.

Step-by-step explanation:

The summary terms of the policy must contain the policy conditions, coverage limitations and premiums. The policy must legally be issued to policy holders with every transaction if required by law. The policy summary also includes the cost of the policy which are premium amounts and information regarding benefits that come with the policy. Information of the amount that must be paid out upon death must be included in the policy summary.