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
Life Insurance- Exam 2 Questions & 100% Correct Answers- Latest Test | Graded A+ | Passed $9.99
Add to cart
Quickly navigate to
Preview
  2.  
  3. Life Insurance
  4.  
  5. Life Insurance

Exam (elaborations)

Life Insurance- Exam 2 Questions & 100% Correct Answers- Latest Test | Graded A+ | Passed
 4 views  0 purchase
  • Course
  • Life Insurance
  • Institution
  • Life Insurance

The automatic premium loan provision authorizes an insurer to withdraw from a policy's cash value the amount of -:- past due premiums that have not been paid by the end of the grace period If an insured dies during the grace period with no premiums paid -:- the policy would be payable, minus...

[Show more]

Preview 2 out of 9  pages

Document information

  • September 6, 2024
  • 9
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • life insurance exam 2 questions 100 correct a
  • the automatic premium loan provision authorizes an

Written for

  • Life Insurance
  • Life Insurance

Seller

avatar-seller
TestTrackers

Reviews received

Content preview

2024 /2025 | © copyright | This work may not be copied for profit gain | Excel!



Life Insurance- Exam 2 Questions & 100%
Correct Answers- Latest Test | Graded A+ |
Passed
The automatic premium loan provision authorizes an insurer to withdraw from a policy's

cash value the amount of


✓ -:- past due premiums that have not been paid by the end of the grace period




If an insured dies during the grace period with no premiums paid


✓ -:- the policy would be payable, minus the premium amount




What is the name of the provision which states that a copy of the application must be

attached to the policy when issued?


✓ -:- Entire Contract




Which of the following protects a policyowner from a misrepresentation caused by an

innocent mistake?


✓ -:- Incontestable clause




What is the purpose for having an accelerated death benefit on a life insurance policy?




1|Page | Grade A+| 2024/2025

, 2024 /2025 | © copyright | This work may not be copied for profit gain | Excel!

✓ -:- It allows for cash advances to be paid against the death benefit if the insured

becomes terminally ill




All of the following are considered to be nonforfeiture options available to a policyowner

EXCEPT


✓ -:- Reduction of Premium




If an insured's age on a life insurance policy has been misstated, what is the insurer's liability

if the insured dies?


✓ -:- A prorated death benefit based on the amount of insurance the insured's

premiums would have been if purchased at the correct age




Under a life insurance policy, what does the insuring clause state?


✓ -:- The insurer's obligation to pay a death benefit upon an approved death claim




The two major actions required for a policyholder to comply with the Reinstatement Clause

are


✓ -:- provide evidence of insurability, pay past due premiums




James is the insured on a life insurance policy where his age was misstated on the

application. Which of the following is CORRECT regarding the death benefit amount?

2|Page | Grade A+| 2024/2025

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 TestTrackers. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $9.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

52355 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$9.99
  • (0)
Add to cart
Added