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      Question

      In a life insurance contract, the stated sum of money to

      be paid to the beneficiary upon the insured’s death is termed as?
      A Face Amount Correct Answer Incorrect Answer
      B Expense Ratio Correct Answer Incorrect Answer
      C Extended Coverage Correct Answer Incorrect Answer
      D Extra Expense Insurance Correct Answer Incorrect Answer
      E None of these Correct Answer Incorrect Answer

      Solution

      Sum of money for which an insurance cover is obtained, usually shown on the top sheet (face) of the policy. In life insurance, face amount is the sum paid on the policy's maturity date, on the death of the insured, or (if the policy terms permit) on his or her total disability

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