100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
Arizona Life Insurance- ExamLatest Updated 2024/2025 Actual Questions and Answers Fully Solved 100% Guaranteed Success.(Graded A+) $7.99
Add to cart
Quickly navigate to
Preview
  2.  
  3. Arizona Life Insurance
  4.  
  5. Arizona Life Insurance

Exam (elaborations)

Arizona Life Insurance- ExamLatest Updated 2024/2025 Actual Questions and Answers Fully Solved 100% Guaranteed Success.(Graded A+)
 0 purchase
  • Course
  • Arizona Life Insurance
  • Institution
  • Arizona Life Insurance

what would be the disadvantage of naming a trust as a beneficiary of a life insurance policy trusts cannot be formed for life insurance purposes trust administrations fees would reduce policy proceeds trusts cannot be used if a minor is the beneficiary trustee must be a bank or brokerage - trus...

[Show more]

Preview 4 out of 48  pages

Document information

  • August 3, 2024
  • 48
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

Written for

  • Arizona Life Insurance
  • Arizona Life Insurance

Seller

avatar-seller
ACADEMICMATERIALS

Reviews received

Content preview

Arizona Life Insurance- Exam
what would be the disadvantage of naming a trust as a beneficiary of a life insurance policy



trusts cannot be formed for life insurance purposes



trust administrations fees would reduce policy proceeds



trusts cannot be used if a minor is the beneficiary



trustee must be a bank or brokerage - trust administrations fees would reduce policy proceeds



a life insurance policy that includes a return of premium rider will pay the beneficiary how much upon
the insured death



total premiums paid plus the policy face amount



face amount plus interest



interest acquired plus total premiums paid



face amount minus any outstanding loan balances - total premiums paid plus the policy face
amount



When there is a named beneficiary on a life insurance policy, the death benefits



1. are directed to a trustee if the insured has any outstanding debts



2. are paid directly to the insured`s creditors, with any remaining balance forwarded to the beneficiary

,3. are paid directly to the beneficiary, minus any debt claims by the insured`s creditors



4. are paid directly to the beneficiary without interference from the insured`s creditors - are paid
directly to the beneficiary without interference from the insured`s creditors



What determines how much an annuitant is paid for a variable annuity



1. varies according to how many outstanding annuitant is paid for a variable annuity



2. payments fluctuate as annuitant gets older



3. the market value variations of the securities backing it



4. varies according to the insurers investments in its general account - the market value variations
of the securities backing it




Rick owns a variable universal life insurance policy and chooses a variable death benefit option. what will
typically happen to the death benefit as a result of this section



1. remain the same



2 decrease but never increase



3 increase but never decrease



4 fluctuate with changes in the cash amount - fluctuate with changes in the cash amount

,the policy provision that permits an employee to change from group life insurance to an individual policy
is called



1 assignment provision



2 conversion provision



3 certificate provision



4 modification provision - conversion provision



when the deferred annuity is surrendered, who must sign the authorization to do so



owner



annuitant and beneficiary



annuitant



all parties involved - owner



Which of the following is NOT a valid contract exchange?



1. an annuity exchanged for a life insurance policy



2 an annuity exchanged for another annuity



3 a life insurance policy exchanged for another life insurance policy

, 4 a life insurance policy exchanged for another annuity - an annuity exchanged for a life insurance
policy

a whole life policy that provides a choice of dividend options include the following statement about
dividends



they accrue at a guaranteed rate



they are deferred for one year



they are not guaranteed



they are guaranteed after the first year - they are not guaranteed



which of these statements regarding the extended term insurance nonforfeiture option in a life policy is
accurate



evidence of insurability is required



coverage remains until death of the insured



the premium to purchase the coverage comes from the policy`s cash value



cash value will continue to grow - the premium to purchase the coverage comes from the policy`s
cash value



which of these is NOT considered the responsibility of a producer during the underwriting process



collecting additional medical information if needed



promptly sending the completed application to the insurance company

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

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

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

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 ACADEMICMATERIALS. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $7.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

67479 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 15 years now

Start selling
$7.99
  • (0)
Add to cart
Added