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Life Insurance Premerica Questions & 100% Correct Answers- Latest Test | Graded A+ | Passed
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. When does an insurance policy go into effect? -:- When the policy is delivered and the premium is paid 2. How is the information obtained for an investigative consumer report? -:- Through interviews with the applicant's associates, friends and neighbors. 3. What is a warranty in insurance c...

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  • September 6, 2024
  • 8
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • life insurance premerica questions 100 correct
  • when does an insurance policy go into effect

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  • Life Insurance
  • Life Insurance

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2024 /2025 | © copyright | This work may not be copied for profit gain | Excel!



Life Insurance Premerica Questions & 100%
Correct Answers- Latest Test | Graded A+ |
Passed
1. When does an insurance policy go into effect?


✓ -:- When the policy is delivered and the premium is paid




2. How is the information obtained for an investigative consumer report?


✓ -:- Through interviews with the applicant's associates, friends and neighbors.




3. What is a warranty in insurance contract?


✓ -:- An absolutely true statement upon which the validity of the insurance contract is

based.




4. What are the three main instances when insurable Internet exists in the life insurance?


✓ -:- Insuring your own life, the life of a family member or the life of a business

parters or someone who has financial obligation to the policy owner.




5. What term describes the fee a person pays to insurance company to relieve coverage?


✓ -:- Premium




1|Page | Grade A+| 2024/2025

, 2024 /2025 | © copyright | This work may not be copied for profit gain | Excel!

6. What repost is used to assess risk associated with a health insurance applicant's lifestyle

and character?


✓ -:- Investigative Consumer Report




7. In insurance, when is the offer usually made on a contract?


✓ -:- When the insurance application is submitted




8. Health contracts are prepared by insurers and must be accepted by the insured on an is

basis. This describes what aspect of health insurance contact?


✓ -:- Contract of adhesion




9. What risk classification would typically qualify for lower premiums?


✓ -:- Preferred risk




10. What is the best way to handle incomplete insurance applications?


✓ -:- Return the application to the applicant for completion




11. What is the main responsibility of a company's underwriting unit?


✓ -:- Risk Selection




2|Page | Grade A+| 2024/2025

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