Exam (elaborations)
Primerica (Life Policy Riders) Exam Questions and Complete Solutions Graded A+
- Course
- Institution
Primerica (Life Policy Riders) Exam Questions and Complete Solutions Graded A+
[Show more]
Content preview
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
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 YourExamplug. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $14.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
77254 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now