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Life Insurance Premiums, Proceeds and Beneficiaries Questions & 100% Correct Answers- Latest Test | Graded A+ | Passed $11.49
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Life Insurance Premiums, Proceeds and Beneficiaries Questions & 100% Correct Answers- Latest Test | Graded A+ | Passed
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Over the course of a year, which premium payment mode is most expensive? Monthly Quarterly Semi-Annually Annually -:- Monthly Sharon is the policyowner of a $50,000 life insurance policy. Her son, Mike, is the beneficiary. If Sharon MUST obtain Mike's signature in order to change the benef...

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  • September 6, 2024
  • 21
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • life insurance premiums proceeds and beneficiari
  • over the course of a year which premium payment m

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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 Premiums, Proceeds and
Beneficiaries Questions & 100% Correct
Answers- Latest Test | Graded A+ | Passed
Over the course of a year, which premium payment mode is most expensive?




Monthly




Quarterly




Semi-Annually




Annually


✓ -:- Monthly




Sharon is the policyowner of a $50,000 life insurance policy. Her son, Mike, is the

beneficiary. If Sharon MUST obtain Mike's signature in order to change the beneficiary,

what kind of beneficiary designation is this?




Tertiary


1|Page | Grade A+| 2024/2025

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




Contingent




Revocable




Irrevocable


✓ -:- Irrevocable




Level premium term life insurance policies




build cash value in a separate account




automatically convert to permanent insurance at a predetermined date




automatically renew at predetermined dates




have premiums that are averaged over the policy period




2|Page | Grade A+| 2024/2025

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

✓ -:- have premiums that are averaged over the policy period




Which settlement option involves having the proceeds remain with the insurer and earnings

paid on a monthly basis to the beneficiary?




interest only




dividends only




extended interest




fixed period


✓ -:- interest only




If the beneficiary dies from the same accident as the insured individual, the insurer will

proceed as if




the insured outlived the beneficiary




3|Page | Grade A+| 2024/2025

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