NC Life Insurance Study Test Questions and Answers Graded A+ Latest Update
4 views 0 purchase
Course
NC Life Insurance
Institution
NC Life Insurance
NC Life Insurance Study Test Questions and Answers Graded A+
The Family Plan Insurance Policy usually consists of:
whole life insurance on the family head and term insurance on other family members
A Jumping Juvenile Policy:
automatically increases the face amount at a given age
Excess...
nc life insurance study test questions and answers
Written for
NC Life Insurance
All documents for this subject (496)
Seller
Follow
LectDan
Reviews received
Content preview
NC Life Insurance Study Test Questions and
Answers Graded A+
The Family Plan Insurance Policy usually consists of:
whole life insurance on the family head and term insurance on other family members
A Jumping Juvenile Policy:
automatically increases the face amount at a given age
Excess interest credited under an index-linked method would pay interest in relation to:
an external economic indicator
Under a straight life annuity, an income is payable by the company:
only so long as the annuitant is alive
The premium for Interest Sensitive Whole Life is:
fixed with the policy lapsing if not paid
The purpose of the Life, Accident, and Health Guaranty Association is to:
provide guarantees of payment to those individuals whose insurer is insolvent(bankrupt)
Maximum benefit payment from the Life, Accident, and Health Guaranty Association is:
$300,000
Payment of death proceeds must be paid within a specified number of days after receiving
satisfactory proof of loss. What is this requirement?
30 days
The grace period can be no fewer than:
31 days
The policyowner of a Universal Life Policy withdrawals $60,000 of the cash value to purchase a car. If
the cumulative premiums paid to date total $40,000, how much of the cash withdrawal is taxable as
ordinary income?
$20,000
A Universal Life policy resembles a yearly renewable term policy in that the:
cost of the portion of the death benefit for which the company is "at risk" increases annually with the
insured's age
An annuity whose benefits start within 1 year of purchase is called:
Immediate Annuity
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller LectDan. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.59. You're not tied to anything after your purchase.
