PRIMERICA LIFE INSURANCE EXAM BUNDLE|| ACTUAL TEST|| FULL BUNDLED SOLUTION 2024 ( A GRADED 100% VERIFIED BY EXPERTS)

An insured under a life insurance policy has been diagnosed with a terminal illness and has 6 months to live. The insured knows that his financial state will worsen even more with the upcoming medical expenses. What option could the insured utilize? a) Estate liquidation b) Nonpayment of premium...

401k plan - ANSWER A qualified retirement plan in which the employee can set aside a portion of their income with pre-tax dollars. Absolute Assignment v. Collateral Assignment - ANSWER Absolute: A permanent and irrevocable transfer of rights and/or benefits by the policyowner. Collateral: A te...

Risk - ANSWER uncertainty of a financial loss; 2 types Two typed of risks - ANSWER Pure (Insurable) and speculative (uninsurable) Benefits of purchasing insurance? - ANSWER You get to transfer financial risk left after passing to insurance company Law of large numbers - ANSWER the larger the siz...

Deferred Annuity - ANSWER An annuity in which the income payments begin sometime after one year from the date of red annuities can be funded with a single lump sum payment so it is referred to as a single premium differed annuities. Human life values approach - ANSWER Calculates an individual's ...

The receipt given to a life insurance applicant when the application is completed and the initial premium is received is called a(n) - ANSWER conditional receipt Statements in the application for insurance that are believed to be true to the best of the applicant's knowledge are called - ANSWER ...

An insured purchased an insurance policy 5 years ago. Last year, she received a dividend check from the insurance company that was not taxable. This year, she did not receive a check from the insurer. From what type of insurer did the insured purchase the policy? a. mutual b. reciprocal c. non...