Oklahoma Life Producer Practice Exam

In a Joint Life policy, which person's age is primarily considered for determining benefits?

1. The husband's age

2. The wife's age

3. Both ages equally

4. The younger person's age

The correct answer is: The wife's age

In a Joint Life policy, the age that is primarily considered for determining benefits is typically the age of the younger person. This is because the policy is designed to provide coverage for two individuals, and when a benefit is triggered, such as upon the death of one of the insured, it tends to favor the better underwriting risk, which is often represented by the younger age. Using the younger person's age helps in setting the premium amounts, as younger individuals generally present less risk and typically have a longer life expectancy. This principle applies to many types of life insurance policies and helps to balance the risks for the insurer while providing coverage for both insured individuals. Thus, the correct answer emphasizes the importance of considering the youngest insured individual’s age when determining benefits in a Joint Life policy.