Arizona Life Insurance- ExamLatest Updated 2024/2025 Actual Questions and Answers Fully Solved 100% Guaranteed Success.(Graded A+)
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Arizona Life Insurance
Institution
Arizona Life Insurance
what would be the disadvantage of naming a trust as a beneficiary of a life insurance policy
trusts cannot be formed for life insurance purposes
trust administrations fees would reduce policy proceeds
trusts cannot be used if a minor is the beneficiary
trustee must be a bank or brokerage - trus...
Arizona Life Insurance- Exam
what would be the disadvantage of naming a trust as a beneficiary of a life insurance policy
trusts cannot be formed for life insurance purposes
trust administrations fees would reduce policy proceeds
trusts cannot be used if a minor is the beneficiary
trustee must be a bank or brokerage - trust administrations fees would reduce policy proceeds
a life insurance policy that includes a return of premium rider will pay the beneficiary how much upon
the insured death
total premiums paid plus the policy face amount
face amount plus interest
interest acquired plus total premiums paid
face amount minus any outstanding loan balances - total premiums paid plus the policy face
amount
When there is a named beneficiary on a life insurance policy, the death benefits
1. are directed to a trustee if the insured has any outstanding debts
2. are paid directly to the insured`s creditors, with any remaining balance forwarded to the beneficiary
,3. are paid directly to the beneficiary, minus any debt claims by the insured`s creditors
4. are paid directly to the beneficiary without interference from the insured`s creditors - are paid
directly to the beneficiary without interference from the insured`s creditors
What determines how much an annuitant is paid for a variable annuity
1. varies according to how many outstanding annuitant is paid for a variable annuity
2. payments fluctuate as annuitant gets older
3. the market value variations of the securities backing it
4. varies according to the insurers investments in its general account - the market value variations
of the securities backing it
Rick owns a variable universal life insurance policy and chooses a variable death benefit option. what will
typically happen to the death benefit as a result of this section
1. remain the same
2 decrease but never increase
3 increase but never decrease
4 fluctuate with changes in the cash amount - fluctuate with changes in the cash amount
,the policy provision that permits an employee to change from group life insurance to an individual policy
is called
1 assignment provision
2 conversion provision
3 certificate provision
4 modification provision - conversion provision
when the deferred annuity is surrendered, who must sign the authorization to do so
owner
annuitant and beneficiary
annuitant
all parties involved - owner
Which of the following is NOT a valid contract exchange?
1. an annuity exchanged for a life insurance policy
2 an annuity exchanged for another annuity
3 a life insurance policy exchanged for another life insurance policy
, 4 a life insurance policy exchanged for another annuity - an annuity exchanged for a life insurance
policy
a whole life policy that provides a choice of dividend options include the following statement about
dividends
they accrue at a guaranteed rate
they are deferred for one year
they are not guaranteed
they are guaranteed after the first year - they are not guaranteed
which of these statements regarding the extended term insurance nonforfeiture option in a life policy is
accurate
evidence of insurability is required
coverage remains until death of the insured
the premium to purchase the coverage comes from the policy`s cash value
cash value will continue to grow - the premium to purchase the coverage comes from the policy`s
cash value
which of these is NOT considered the responsibility of a producer during the underwriting process
collecting additional medical information if needed
promptly sending the completed application to the insurance company
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