which policy component decrease in decreasing term insurance? - answer-face amount
Your client plans to retire at age 50. he would like to purchase an annuity that would provide income from the time he retires to the age when social security and other pension funds become available. What settlem...
FX Oregon Life/Health insurance Exam
2024
which policy component decrease in decreasing term insurance? - answer-✔face
amount
Your client plans to retire at age 50. he would like to purchase an annuity that
would provide income from the time he retires to the age when social security and
other pension funds become available. What settlement option should he consider?
- answer-✔Annuity certain
which of the following programs expands individual public assistance programs
for people with insufficient income and resources? - answer-✔Medicaid
in an annuity, the accumulated money is converted into a stream of income during
which time period? - answer-✔Annuitization period
Which of the following best describes the difference between Pure Life and Life
with Guaranteed Minimum settlement options? - answer-✔life with guaranteed
minimum will pay the remaining principal to the beneficiary
An insured pays a monthly premium of $100 for her health insurance. What would
be the duration of the grace period under the policy? - answer-✔10 days
under an extended term nonforfeiture option, the policy cash value is converted to -
answer-✔The same face amount as in the whole life policy
, In order to collect Social Security disability benefits, the claimant must be able to
demonstrate the the disability will last at least - answer-✔12 monthes
Which of the following is not true of Disability Buy-Sell coverage? - answer-
✔Benefits are considered taxable income to the business
Who guarantees a conventional fully-insured group plan? - answer-✔the insurer
Which of the following groups seeking health insurance would represent a bad risk
for underwriters? - answer-✔A group that changes insurance annually
When a group health insurance plan is terminated, how long is an extension of
benefits provided for any totally disabled employee or dependent? - answer-✔12
monthes
All of the following are true of key person insurance EXCEPT - answer-✔The plan
is funded by permanent insurance only
In franchise insurance, premiums are usually - answer-✔Lower the individual
policies, but higher then group policies
An annuity owner is funding an annuity that will supplement her retirement.
Because she doesnt know what effect inflation may have on her retirement dollars,
she would like a return that will equal the performance of the Standard and Poor's
500 Index. She would likely purchase a(n) - answer-✔Equity Indexed Annuity
All of the following are true of an annuity owner EXCEPT - answer-✔The owner
must be the party to receive benefits
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