Exam (elaborations)
CHAPTER 3 - LIFE INSURANCE POLICIES - EXAMFX 2025 LATEST UPDATE EXPERT VERIFIED QUESTIONS AND ANSWERS REAL EXAM
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TEXAS HEALTH AND LIFE INSURANCE
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TEXAS HEALTH AND LIFE INSURANCE
CHAPTER 3 - LIFE INSURANCE POLICIES - EXAMFX 2025 LATEST UPDATE EXPERT VERIFIED QUESTIONS AND ANSWERS REAL EXAM
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TEXAS HEALTH AND LIFE INSURANCE
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TEXAS HEALTH AND LIFE INSURANCE
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CHAPTER 3 - LIFE INSURANCE POLICIES - EXAMFX
2025 LATEST UPDATE EXPERT VERIFIED QUESTIONS
AND ANSWERS REAL EXAM
AccumulateO-OcorrectOanswer-buildOup
AttainedOAgeO-OcorrectOanswer-TheOinsured'sOageOatOtheOtimeOtheOpolicyOifOrenewedOorOreplaced
cashOvalueO-OcorrectOanswer-aOpolicies,OsavingsOelementOorOlivingObenefit
deferredO-OcorrectOanswer-withheldOorOpostponedOuntilOaOspecifiedOtimeOorOeventOinOtheOfuture
endowO-OcorrectOanswer-
toOhaveOtheOcashOvalueOofOaOwholeOlifeOpolicyOreachedOtheOcontractualOfaceOamount
FaceOAmountO-OcorrectOanswer-TheOamountOofObenefitsOstatedOinOtheOlifeOinsuranceOpolicy
fixedOlifeOinsuranceOproductsO-OcorrectOanswer-
contractsOthatOofferOguaranteedOminimumOorOfixedObenefits
lapseO-OcorrectOanswer-policyOterminationOdueOtoOnon-paymentOofOpremium
LevelOPremiumO-OcorrectOanswer-TheOpremiumOdoesOnotOchangeOthroughoutOtheOlifeOofOaOpolicy
non-forfeitureOvaluesO-OcorrectOanswer-
benefitsOinOaOlifeOinsuranceOpolicyOthatOtheOpolicyOownerOcannotOloseOevenOifOtheOpolicyOisOsurrenderedOor
Olapses
PolicyOmaturityO-OcorrectOanswer-TheOtimeOwhenOtheOfaceOvalueOisOpaidOout
securitiesO-OcorrectOanswer-
financialOinstrumentsOthatOmadeOtradeOforOvalueOforOexample,Ostocks,ObondsOandOoptions
, variableOlifeOinsuranceOproductsO-OcorrectOanswer-
contractsOinOwhichOtheOcashOvaluesOaccumulateObasedOonOuponOtheOspecificOportfolioOofOstocksOwithoutOg
uaranteesOofOperformance
temporaryOinsuranceO-OcorrectOanswer-akaOtermOlifeOinsuranceOorOpureOlifeOinsurance
coverageOforOspecificOperiodOofOtime
whichOtypeOofOpolicyOprovidesOtheOgreatestOcoverageOforOtheOlowestOpremium?O-OcorrectOanswer-
termOlifeOinsurance
whatOisOpureOdeathOprotection?O-OcorrectOanswer-termOlifeOinsurance.
noOcashOvalueOorOotherOlivingObenefits.
EnsureOdiesOtheOpolicyOpaysOtheObenefitOnewOlineOifOpolicyOcanceledOorOexpiredObeforeOdeath,OnothingOisO
payable
threeObasicOtypesOofOtermOcoverageO-OcorrectOanswer-1.OlevelOterm
2.Oincreasing
3.Odecreasing
doesOtheOpremiumOchangeOinOaOtermOlifeOpolicy?O-OcorrectOanswer-no
levelOtermOinsuranceO-OcorrectOanswer-
mostOcommonO,OdeathObenefitOdoesOnotOchangeOthroughoutOtheOpolicy
annuallyOrenewableOtermO-OcorrectOanswer-
renewsOeachOyearOwithoutOproofOofOinsurability,OpremiumOincreasesOaccordingOtoOattainedOage
DecreasingOTermOInsuranceO-OcorrectOanswer-levelOpremiumOduringOtermOofOpolicy.
faceOamount/OdeathObenefitOdecreasesOoverOtime.
commonlyOpurchasedOtoOensureOtheOpaymentOofOaOmortgageOareOotherOdebts