GA: Life Insurance Exam Questions and Answers 100% Pass
6 views 0 purchase
Course
Georgia Life and Health Insurance
Institution
Georgia Life And Health Insurance
GA: Life Insurance Exam Questions and
Answers 100% Pass
When does an Endowment Life policy mature? - Correct Answer ️️ -When the Insured
dies or reaches the age or date of endowment.
A securities license is required to sell which of the following? - Correct Answer ️️ -
Variable Univers...
GA: Life Insurance Exam Questions and Answers 100% Pass When does an Endowment Life policy mature? - Correct Answer ✔️✔️-When the Insured dies or reaches the age or date of endowment. A securities license is required to sell which of the following? - Correct Answer ✔️✔️-
Variable Universal Life Which is a community based provider of insurance benefits: - Correct Answer ✔️✔️-PPO The Payor Benefit Rider is commonly found in policies insuring: - Correct Answer ✔️✔️-
juveniles. A policy's coverage becomes effective when? - Correct Answer ✔️✔️-The polic y is physically delivered to the applicant, assuming the premium has been paid. Under Social Security, one who is Fully Insured has worked and contributed to FICA for at least: - Correct Answer ✔️✔️-40 quarters. Under an IRA: - Correct Answer ✔️✔️-Payouts must begin by 72. Group life paid for by the employer is tax deductible for the employer. The premium is not considered to be taxable income for the employee unless the amount of the death benefit exceeds: - Correct Answer ✔️✔️-$50,000 . Life insurance protects against: - Correct Answer ✔️✔️-dying too soon. Each of the following Annuity payout options may continue to pay a benefit to a surviving spouse EXCEPT: - Correct Answer ✔️✔️-A Straight Life Annuity. Which provision found in Disabili ty policies stipulates that the Insured must wait 60 days after filing a claim before filing a lawsuit against the Insurer? - Correct Answer ✔️✔️-Legal Action Which of the following is a characteristic of Long Term Care policies? - Correct Answer ✔️✔️-They must contain a nonforfeiture provision. Social Security provides each of the following benefits EXCEPT: - Correct Answer ✔️✔️-
Unemployment benefits Which of the following permits a Term Policy to be changed to a permanent policy without proof of insurabil ity? - Correct Answer ✔️✔️-Conversion Provision Which section of the health policy contains the pre -existing conditions? - Correct Answer ✔️✔️-Insuring Clause Indemnity means: - Correct Answer ✔️✔️-Being made whole. Who can make changes to an insurance pol icy? - Correct Answer ✔️✔️-An executive officer of the insurance company. Under what circumstances can a policy owner exercise the Free Look Provision? - Correct Answer ✔️✔️-For any reason as long as it is within the specified time period. Which section of the life policy may provide that the policy will not pay claims due to military action, foreign travel, or suicide? - Correct Answer ✔️✔️-Insuring Agreement The DI policy's Time of Payment of Claims provision permits each of the following benefit payment modes EXCEPT: - Correct Answer ✔️✔️-Quarterly Paul has a Group Health plan at work. His employer pays the whole premium and Paul does not have to pay anything for the coverage. What is this type of plan called? - Correct Answer ✔️✔️-A noncontributory plan. What is the name of the policy that is designed to protect a company if a key person dies? - Correct Answer ✔️✔️-Key Person Life Insurance What is the standard grace period for Life Insurance policies? - Correct Answer ✔️✔️-31 days What happens when the w hole life policy's grace period expires? - Correct Answer ✔️✔️-
The policy lapses. Which of the following will an AD&D policy cover? - Correct Answer ✔️✔️-Traveling as a fare-paying passenger on a regularly scheduled flight. What is used to create a Return of Premium Rider? - Correct Answer ✔️✔️-Increasing Term Insurance Jim has a Group Health plan at work. He has a heart attack and decides to leave his job. Within 31 days, Jim applies to convert his group coverage to an individual policy, what will the Insu rer do? - Correct Answer ✔️✔️-Issue a standard policy without subjecting him to a pre -existing condition exclusion. Which of the following statements about Universal Life is CORRECT? - Correct Answer ✔️✔️-The premiums are flexible. Which policy provision r equires the Insured to pay a specified dollar amount of the loss? - Correct Answer ✔️✔️-Deductible
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller BrittieDonald. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.49. You're not tied to anything after your purchase.
