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RMI 211 Final Exam Questions And Answers Latest Update $16.49
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RMI 211 Final Exam Questions And Answers Latest Update

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RMI 211 Final Exam Questions And Answers Latest Update

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  • December 18, 2024
  • 12
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
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RMI 211 Final Exam 2024-2025
Questions And Answers Latest Update




A contingent beneficiary in a life insurance policy has the right to: - receive the
policy proceeds if the primary beneficiary dies before the insured




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, A legal reserve in life insurance is a result of: - excess premiums in the early policy
years being invested at compound interest.



All of the following are nonforfeiture options found in cash value life insurance
EXCEPT:

Cash Value

Reduced Paid-Up Insurance

Extended Term Insurance

Reduction of Premiums - reduction of premiums



Under the waiver of premium provisions, if an insured becomes disabled:

1. premiums are continued to be paid by the insurance company on behalf of the
insured

2. premiums paid by the insured are waived by the insurance company - 2. only



Ann is considering the purchase of a life insurance policy with these
characteristics: flexible premium payments, the insurance and savings
components are separate, the interest rate credited to the cash value is tied to a
changing market interest rate but a minimum interest rate is guaranteed, and a
monthly administrative fee is charged. Ann is considering buying: - universal life
insurance



Becky is considering the purchase of a whole life policy on her own life. She is
concerned that if she becomes disabled, paying premiums will become a burden.



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