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Primerica (Life Policy Riders) Exam Questions and Complete Solutions Graded A+
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Primerica (Life Policy Riders) Exam Questions and Complete Solutions Graded A+
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Primerica (LifePolicy Riders)
Exam Questions
and Complete
Solutions Graded
Denning [Date] [Course title]
, In the fixed period statement options, how will the number of installments for the death benefit
proceeds determine the amount of the installments? - Answer: The longer the period selected, the
smaller each installment will be.
What settlement options are available in life insurance policies? - Answer: Lump-sum/cash, fixed period,
fixed amount, life income, interest only.
What type of beneficiary is next in line after the primary beneficiary. - Answer: Contingent beneficiary.
What life insurance policy provision states that both the policy and a copy of the application form the
contract between the policyowner and the insurer? - Answer: Entire contract
what advantage of reinstating a life insurance policy as opposed to applying for a few one. - Answer:
policy premium in a reinstated policy will be set according to the insured's original age.
what is the purpose of a free look period? - Answer: To allow the insured to return the policy with a full
refund
To meet the requirements of the entire contract policy provisions, an insurance policy must contain
what? - Answer: a copy of the original insurance application.
what provision of a life insurance policy extends coverage beyond the premium due date? - Answer:
Grace period.
What nonforfeiture option provides coverage for the longest period of time? - Answer: Reduced paid-up
what happens to a policy's cash value under an extended term nonforfeiture option? - Answer: The cash
value is converted to the same face amount as in the whole life policy.
what does the term double indemnity mean? - Answer: The insurer will pay a benefit of twice the face
amount
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