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2024 update | PSI LIfe Insurance Exam| latest|COMPREHENSIVE QUESTIONS AND VERIFIED ANSWERS (100% Correct solutions) GET IT 100% ACCURATE!!$12.99
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10/31/24, 8:48 AM 2024 update | PSI LIfe Insurance Exam|2024-2025 latest|COMPREHENSIVE QUESTIONS AND VERIFIED ANSWERS (100…
2024 update | PSI LIfe Insurance Exam|2024-
2025 latest|COMPREHENSIVE QUESTIONS AND
VERIFIED ANSWERS (100% Correct solutions)
GET IT 100% ACCURATE!!
Terms in this set (83)
During which period of a Probationary period
Disability Income Policy
is coverage effective but
during which no benefits
will be paid under the
policy?
All of the following are committing a misdemeanor
common exclusions from
loss found in disability
income policies EXCEPT
for that incurred while
What is the primary insured original issue age is used
advantage for obtaining
a reinstatement of a
policy rather than
obtaining a new one?
How does a With the noncancelable policy the insurer may
noncancelable policy increase premiums only based on the terms of the
differ from a guaranteed policy.
renewable policy?
What does first dollar As soon as covered medical expenses are incurred,
coverage mean? the policy begins to pay.
, 10/31/24, 8:48 AM 2024 update | PSI LIfe Insurance Exam|2024-2025 latest|COMPREHENSIVE QUESTIONS AND VERIFIED ANSWERS (100…
What is the maximum 3 years
amount of time the
insured has to file legal
action against the insurer
after written proof of loss
is provided?
medical information on an applicant for assessing
What is a MIB report?
life or health insurance risk
All of the following are the incomplete application can be accepted with
TRUE regarding the missing information added later.
incomplete applications
EXCEPT
Why are insurance Certain conditions need to be met to make the
policies considered contract legally enforceable.
conditional contracts?
When does insurable when the applicant for the policy is not the insured
interest come into play in
a life insurance policy?
Which type of receipt binding receipt
makes the insurer liable
for the risk from the date
of application, regardless
of the applicant's
insurability?
What specific new Establish an anti-money laundering program
procedures does the
USA Patriot Act require of
insurance companies?
What is the purpose of he policy originated primarily or solely for the
Stranger-originated life purpose of resale.
insurance (STOLI)?
a warranty is guaranteed to be true, a
How do warranties differ
representation is believed to be true to the best of
from representations?
one's knowledge.
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