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18. An insured purchased an insurance policy 5 years ago. Last year, she received a dividend check from the insurance company that was not taxable. This year, she did not receive a check from the insurer. From what type of insurer did the insured purchase the policy? a. mutual b. reciprocal c. nonprofit service organization d. stock A. mutual funds not paid out after paying claims and other operating costs are returned to the policy owners in the form of a dividend. if all funds ar...

1. Which of the following annuity products requires an agent to hold a securities license? Answer: variable annuities 2. What is the purpose of the grace period in life insurance policies? Answer: to protect the policyowner against an unintentional lapse of the policy 3. An annuity that is purchased with a lump-sum payment, and begins payments within one year is a: Answer: single premium immediate annuity 4. If the cash value exceeds the premiums paid in a whole life policy, what is taxable w...

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PRIMERICA LIFE INSURANCE EXAM AND ANSWERS 2025/2026 An insured purchased an insurance policy 5 years ago. Last year, she received a dividend check from the insurance company that was not taxable. This year, she did not receive a check from the insurer. From what type of insurer did the insured purchase the policy? a. mutual b. reciprocal c. nonprofit service organization d. stock - answer-A. mutual funds not paid out after paying claims and other operating costs are returned to the poli...

The receipt given to a life insurance applicant when the application is completed and the initial premium is received is called a(n) - ANSWER -conditional receipt Statements in the application for insurance that are believed to be true to the best of the applicant's knowledge are called - ANSWER -rep

Primerica: Life insurance policies EXAM WITH 100% CORRECT ANSWERS 2025/ 2026 Who is entitled to the cash values in a life insurance policy? -The policyowner What is the purpose of establishing a target premium for a universal life policy -To prevent the policy from lapsing 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 ter...

Primerica: Life insurance policies EXAM WITH 100% CORRECT ANSWERS 2025/ 2026 Accelerated Benefits -Riders attached to life insurance policies that allow death benefits to be used to cover nursing or convalescent home expenses. Accidental Death Benefits -A policy rider that states that the cause of death will be analyzed to determine if it complies with the policy description of accidental death. Accidental Death Insurance -An insurance policy that provides payment if the insured's death...

Primerica: Life insurance policies EXAM WITH 100% CORRECT ANSWERS 2025/ 2026 The policyowner of a Universal Life policy may skip paying the premium and the policy will not lapse as long as a. the next month's premium is sufficient to cover both the current premium amount and the skipped amount b. the policy contains sufficient cash value to cover the cost of insurance c. the previous premium payments were high enough to create an excess of premium d. the policyowner cannot skip premiu...

Primerica: Life insurance policies EXAM WITH 100% CORRECT ANSWERS 2025/ 2026 An insured purchased an insurance policy 5 years ago. Last year, she received a dividend check from the insurance company that was not taxable. This year, she did not receive a check from the insurer. From what type of insurer did the insured purchase the policy? -Mutual Which of the following is NOT a goal of risk retention? -To minimize the insured's level of liability in the event of loss Within how many da...