XCEL CHAPTER 4 EXAM QUESTIONS WITH COMPLETE SOLUTIONS VERIFIED GRADED A+ 100% GUARANTEED PASS
Donald is the primary insured of a life insurance policy and adds a children's term rider. What is the advantage of adding this rider?
A. Can be converted to permanent coverage without evidence of insu...
xcel chapter 4 exam questions with complete soluti
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XCEL CHAPTER 4 EXAM QUESTIONS WITH COMPLETE SOLUTIONS
VERIFIED GRADED A+ 100% GUARANTEED PASS
Donald is the primary insured of a life insurance policy and adds a children's term
rider. What is the advantage of adding this rider?
A. Can be converted to permanent coverage without evidence of insurability
B. Coverage can be different for each child
C. Premiums on this rider are not required until the limiting age is reached
D. Increases the policy's overall cash value
Can be converted to permanent coverage without evidence of insurability
A renewable Term Life insurance policy allows the policyowner the right to renew
the policy?
A. at anytime the policyowner chooses
B. as many times as the policyowner chooses
C. paying the same premium as before the renewal
D. without producing proof of insurability
without producing proof of insurability
Which type of life insurance is normally associated with a Payor Benefit rider?
A. Juvenile insurance
B. Family income insurance
C. Spouse insurance
D. Term rider
Juvenile insurance
, A life insurance policy that has premiums fully paid up within a stated time period
is called?
A. stated payment insurance
B. limited universal insurance
C. stated modified insurance
D. limited payment insurance
limited payment insurance
Which of these describes the result of a modified endowment contract that failed
to meet the seven-pay test?
A. Policy loans are disallowed
B. The premium payments will be tax deductible
C. Pre-death distributions are typically taxable
D. Withdrawals will be prohibited
Pre-death distributions are typically taxable
How are survivorship life insurance policies helpful in estate planning?
A. Provide funds to help fund retirement
B. Provide funds to help pay taxes
C. Provide funds for funeral expenses
D. Provide tax deductions for premium payments
Provide funds to help pay taxes
A limited payment whole life policy provides?
A. protection for 20 years
B. lifetime protection
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