Missouri Life Insurance Study Guide Exam Fully Solved 2024.

When an employer terminate coverage under a group policy, how long is that coverage in force? - Answer 31 Days. The employee has 31 days under the conversion privilege to convert to an individual policy. When talking about parties to a contract, what makes a person legally competent. - Answer The person must complete secondary education. What is the number of credits required for the fully insured status of social Security disability benefits? - Answer 40 What type of insurance would be used for a return premium rider - Answer Increasing Term When an insured under a life insurance policy died the beneficiary receive the face amount of the policy and a refund of all premiums paid. Which rider is attached to this policy. - Answer Return of premium A soon to be insured receives his conditional receipt, but dies before the policy has been issued. What will the insurer do? - Answer Pay the policy proceeds only if it would have issued the policy. A time in which the annuitant or the beneficiary DO NOT receive income. - Answer Depreciation period Jim Bob buys a $100,000 annual renewable term life policy for extra protection until his children graduate college he finds out that his policy. - Answer Required a premium increase each renewal Under the fair credit report act if a customer questions the accuracy of the information in his or her report what would the agency do? - Answer Respond to the customers complaints