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Indiana Life and Health Insurance Study Exam (xcelsolutions) 2024 (1
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Indiana Life and Health Insurance Study Exam(xcelsolutions) 2024
20 Pay Life - ANS-J is 35-years old and looking to purchase a whole life insurance policy. Which
of the following types of policies will provide the most rapid growth of cash value?
-Life paid-up at age 70
-20 pay life
-increasing Term to age 65
-Straight Line
Universal Life - ANS-Which of the following types of policies BEST identifies one in which the
cash value may fluctuate to reflect changing assumptions regarding mortality cost, interest, and
expense factors?
-Universal Life
- Endowment Life
-Modified Whole Life
-Graded Premium Whole Life
Conversion - ANS-Which Provision allows the policyowner to change a term life policy to a
permanent one without providing proof of good health?
-Modifcation
-Conversion
-Exchange
-Adjustable
Premiums are payable throughout the insured's lifetime/coverage lasts until death of the insured
- ANS-Which statement is correct regarding the premium payment schedule for whole life
policies?
-Premiums are patable throughout the insured's lifetime/coverage lasts until death of the insured
-Premiums payable for a set period/coverage expires at that point
-Premiums are payable until age 65/coverage lasts a lifetime
-A single premium is paid at time of application/coverage lasts until retirement
Life-Paid up at Age 70 - ANS-Which of the these would be considered a limited-pay life policy?
-10 year renewable and convertibile term
-Life paid-up at Age 70
-Straight Whole Life
-Renewable Term to Age 100
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