Alabama life insurance - Study guides, Class notes & Summaries

Alabama Life Insurance Exam ADB

Final exam Alabama life insurance Questions and Answers

The minimum grace period for a life insurance policy sold in Alabama is: correct answers 30 days Alabama's annuity disclosure regulation: correct answers Requires the delivery of a buyer's guide and a disclosure document to annuity applicant An insurer pays a large claim for medical expenses after the insured has only made one premium payment. This is an example of an: correct answers Aleatory contract Which of the following is NOT guaranteed by a whole life policy? correct answers po...

Alabama Life & Health Insurance ExamFX Life Insurance Policies Questions and Answers

Alabama Life Insurance Exam Questions With 100% Correct Answers 2024

Alabama life insurance test questions with correct answers 2024 The best definition of risk? - ANSWERS Chance of loss. Producer appointed by one company on an exclusive basis is a. - ANSWERS Captive agent Predicting the likelihood of sickness or accident occurring among groups of people according to age, occupation or some other factor. - ANSWERS Morbidity tables Specialized property or liability coverage provided by a nonadmitted insurer is called: - ANSWERS Excess and surplus lines ...

Dividend options are defined as ways in which the policy owner can: correct answersreceives dividends paid on any stock held A life insurance company may pay a death claim for less than the face amount of a policy under which of the following conditions? correct answersAll of the above Which policy will have immediate cash? correct answerssingle premium The process of underwriting primarily involves what two key steps? correct answersrisk selection and pricing Sherwood has no valid w...

A substandard or special class risk typically results in: correct answers a premium that is higher than for a normal risk John purchases insurance because he expects to experience a loss. This is known as: correct answers adverse selection An insurance company may cancel a life insurance policy under which of the following conditions? correct answers The outstanding policy loan exceeds the cash value of the policy Which of the following provisions may NOT be adjusted in an adjustable li...

ALABAMA LIFE INSURANCE EXAM 2024 WITH 100% CORRECT ANSWERS Which clause allows the insured to change an existing policy to any other policy of any type as long as the new policy has a higher premium, without any proof of insurability? - correct answer Privilege of change clause The extended term nonforfeiture option provides: - correct answer Paid-up term coverage equal to that of the original policy With a collateral assignment of a life policy to a creditor: - correct answer You assig...

Alabama Life Insurance Exam Questions and Answers