Spendthrift clause - Study guides, Class notes & Summaries

SC Life Insurance Exam Questions And Answers The balance of the loan will be taken out of the death benefit - ANS If a policy has a automatic loan provision, what happens if the insured dies before the loan is paid back? Inspection Report - ANS An insurer receives a report regarding potential insured that includes financial status, hobbies, and habits. What type of report is that? Spendthrift Clause - ANS The clause that protects the proceeds of a life insurance policy from cr...

PA Life practice exam from PSI (1) Latest Update with Verified Solutions Obtaining consumer information reports under false pretenses is prosecutable by which of the following? 1. USA Patriot Act 2. Fair Credit Reporting Act 3. State laws where the applicant resides 4. Securities and Exchange Commission 2. Fair Credit Reporting Act All of the following are features of the spendthrift clause EXCEPT 1. proceeds are paid in some other way than a single lump sum. 2. pr...

South Carolina Life Insurance Exam Questions and Verified Answers (2024 / 2025)/ A+ GRADE.1. If a policy has a automatic loan provision, what happens if the insured dies before the loan is paid back? ANS The balance of the loan will be taken out of the death benefit 2. An insurer receives a report regarding potential insured that includes finan- cial status, hobbies, and habits. What type of report is that? ANS Inspection Report 3. The clause that protects the proceeds of a life insurance po...

SC Life Insurance Exam Questions and Answers 100% Pass If a policy has a automatic loan provision, what happens if the insured dies before the loan is paid back? The balance of the loan will be taken out of the death benefit An insurer receives a report regarding potential insured that includes financial status, hobbies, and habits. What type of report is that? Inspection Report The clause that protects the proceeds of a life insurance policy from creditors after the death of the ...

The balance of the loan will be taken out of the death benefit - ANSWER If a policy has a automatic loan provision, what happens if the insured dies before the loan is paid back? Inspection Report - ANSWER An insurer receives a report regarding potential insured that includes financial status, hobbies, and habits. What type of report is that? Spendthrift Clause - ANSWER The clause that protects the proceeds of a life insurance policy from creditors after the death of the insured is known a...

California Life, Accident, and Health Insurance Final Exam Questions and Answers Already Passed What distinguishes a deferred annuity from an immediate annuity? The time at which benefit payments start Cindy buys a 10-year certain annuity with an installment refund. After receiving monthly payments for 5 years, Cindy dies. How many remaining payments will the insurer make to her beneficiary? 60 payments What is a common reason people purchase an annuity? To protect against the risk of outlivin...

The balance of the loan will be taken out of the death benefit - Answer If a policy has a automatic loan provision, what happens if the insured dies before the loan is paid back? Inspection Report - Answer An insurer receives a report regarding potential insured that includes financial status, hobbies, and habits. What type of report is that? Spendthrift Clause - Answer The clause that protects the proceeds of a life insurance policy from creditors after the death of the insured is k...

The balance of the loan will be taken out of the death benefit - CORRECT ANSWER-If a policy has a automatic loan provision, what happens if the insured dies before the loan is paid back? Inspection Report - CORRECT ANSWER-An insurer receives a report regarding potential insured that includes financial status, hobbies, and habits. What type of report is that? Spendthrift Clause - CORRECT ANSWER-The clause that protects the proceeds of a life insurance policy from creditors after the d...

Utah Life, Health, and Accident Insurance Latest 2024 Graded A+ mode Refers to how often a premium is paid. coinsurance the insurer and the insured share expenses over the deductible. participating policies participating policies pay dividends non-participating policies non-participating policies do not pay dividends LTC Rider reimburses Health and Social Service expenses incurred in a convalscent or nursing home facility ownership rights vest ownership rights EG the right to...

PSI Practice Exam - Life Insurance Questions and Answers Rated A+ Age - Answer ️️ -For an individual long-term care policy there is an annual dollar limit for tax deductions that is based on which of the following? 1. age 2. cost of care 3. policy value 4. premium cost 4 - Answer ️️ -The group conversion option is allowed for all of the following EXCEPT 1. termination of the master policy . 2. loss of group coverage due to termination of employment. 3. upon the loss of eligib...