Life Insurance Questions & 100% Correct Answers- Latest Test | Graded A+ | Passed
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Course
Life Insurance
Institution
Life Insurance
What are residual disability income insurance payments based on?
-:- The amount of the insured's income is reduced by the disability
The CA insurance code requires that an insurer must have enough assets to cover its
liabilities and for reinsurance of all outstanding risks. To remain solvent, ...
✓ -:- To protect against the risk of outliving their financial resources.
What is the proper order of initial life insurance premiums, from lowest to highest?
✓ -:- Modified premium, ordinary life, single premium
What does ESOP stand for?
✓ -:- Employee Stock Ownership Plan
What does the term coinsurance refer to?
✓ -:- After the deductible is satisfied, the percentage paid by the insured for the
remaining covered expenses
How does rising morbidity rates affect health insurance?
✓ -:- Increased premiums
How are ROTH IRA's treated for tax purposes?
✓ -:- Non-deductible contributions and tax-free distributions
How does underwriting differ between group life and individual life insurance?
4|Page | Grade A+| 2024/2025
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