Exam (elaborations)
MISSISSIPPI LIFE AND HEALTH FINAL EXAM 109-150 QUESTIONS AND ANSWERS
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MISSISSIPPI LIFE AND HEALTH FINAL EXAM 109-150 QUESTIONS AND ANSWERS
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1-43 of 43Which of the following actions is NOT possible with a Universal Life policy?
Policy's cash value may be used to pay premiums
Premium payments may be made at unscheduled times
Premiums may be applied as a credit against income tax
Face amount may be adjusted
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, premiums may applied as a credit against income tax
In a life insurance policy, which provision states who may select policy options,
designate and name a beneficiary, and be the recipient of any financial benefits from
the policy?
Nonforfeiture
Entire Contract
Insuring Clause
Owner's Rights
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Owner's Rights
K has a health policy that must be renewed by the insurer and the premiums can only
be increased if applied to the entire class of insureds. This type of policy is considered
optionally renewable
conditionally renewable
guaranteed renewable
noncancellable
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guaranteed renewable
Which of the following statements about a Guaranteed Renewable Health Insurance
policy is CORRECT?
, Premiums normally decrease at time of renewal
Premiums normally increase at time of renewal
Policy can renewed at any time by the company
Policy can be cancelled at any time by the company
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premiums normally increase at time of renewal
Long-Term Care policies issued in Mississippi must provide benefits for at least
6 months
12 months
18 months
24 months
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12 months
Statements made on an insurance application that are believed to be true to the best
of the applicant's knowledge are called
representations
consideration
warranties
guarantees
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