EXAMFX LIFE AND HEALTH CHAPTER 2 QUESTIONS AND ANSWERS 2024.
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Course
NURS 3632
Institution
NURS 3632
EXAMFX LIFE AND HEALTH CHAPTER 2 QUESTIONS AND ANSWERS 2024. EXAMFX LIFE AND HEALTH CHAPTER 2 QUESTIONS AND ANSWERS 2024. EXAMFX LIFE AND HEALTH CHAPTER 2 QUESTIONS AND ANSWERS 2024. EXAMFX LIFE AND HEALTH CHAPTER 2 QUESTIONS AND ANSWERS 2024. EXAMFX LIFE AND HEALTH CHAPTER 2 QUESTIONS AND ANSWERS ...
EXAMFX LIFE AND HEALTH CHAPTER 2
QUESTIONS AND ANSWERS 2024
1. What universal life option has a gradually increasing cash value and a level
death benefit?: Option A
2. What type of whole life insurance policies only requires a payment of
premium at its inception, and in addition to providing insurance protection for
the life of the insured, endows at the insured's age 100?: Single premium whole
life
3. A policy states that it will pay a specified face amount if the insured dies
during the 20-year premium-paying period and nothing if death occurs after the
20-year period. What type of policy is this?: 20-year level term
4. What type of life insurance policy offers pure death protection?: Term
5. What is the main reason for purchasing an annuity?: To provide income that
the annuitant cannot outlive
6. Who receives income payments from an annuity?: Annuitant
7. Who is entitled to the cash values in a life insurance policy?: The policyowner
8. 8. How is the premium determined in a joint life insurance policy?: The
premium is based on the average age of the insureds.
9. Mortality tables are used by insurance companies to predict what?: Life
expectancy and the death rates for specific groups of individuals
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, 10. With a single premium deferred annuity, when will the annuity payments
become available?: No sooner than 1 year after the annuity purchase
11. If there is no named beneficiary for the annuity benefits, to which entity will
the benefits be paid?: Annuitant's estate
12. When does an adjustable life policy accumulate cash value?: When the
premiums paid are more than the cost of the policy
13. Who bears the investment risk in a fixed annuity?: The insurer
14. What type of life insurance is best suited to cover a mortgage?: Decreasing
term
15. The death protection component of a universal life policy is expressed as
what type of coverage?: Annually renewable term
16. If the annuitant dies during the accumulation period, who will receive the
annuity benefits?: Beneficiary
17. What is the difference between a fixed annuity and a variable annuity?: -
Fixed annuity has a guaranteed interest rate, variable annuity does not
18. What is the difference between a participating and a non-participating
policy?: Participating policy pays dividends, non-participating policy does not
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