Exam fx life - Study guides, Class notes & Summaries

What two elements are necessary to a life insurance contract to have a legal purpose? 1. Insurable Interest 2. Consent Insurance is a contract that protects the insured from what? Loss What Type of Risk is Insurable? Pure What is the term for the causes of loss insured against in a insurance policy? Peril What Law Protects Consumers from the circulation of inaccurate or obsolete information? The Fair Credit Reporting Act What are the three types of hazards? 1. Physical2. Moral 3. Morale...

Exam fx life questions with accurate answers. 100% Verified

Attained Age - Answer-the insured age at the time the policy is issues or renewed cash value - Answer-a policy's savings element or living benefit face amount - Answer-the amount of benefit stated in the life insurance policy fixed life insurance - Answer-contracts that offer guaranteed minimum or fixed benefits deferred - Answer-withheld or postponed until a specified time or event in the future endow - Answer-the cash value of a whole life policy has reached the contractual face amount ...

Exam FX Life Insurance Test Questions and answers latest update 2024

EXAM FX LIFE INSURANCE QUESTIONS AND ANSWERS

ExamFXLifeInsuranceTestQuestions&Answers. Ray has an individual major medical policy that requires a coinsurance payment. Ray rarely visits his physician and would prefer to pay the lowest premium possible. Which coinsurance arranngement would be best for Ray? - Correct Answer 50/50 Which two terms are associated directly with the way an annuity is funded? - Correct Answer Single payment or periodic payments All of the following are examples of thirs party ownership of life insurance - Cor...

exam fx life and health questions with accurate answers..

Attained Age correct answer: the insured age at the time the policy is issues or renewed cash value correct answer: a policy's savings element or living benefit face amount correct answer: the amount of benefit stated in the life insurance policy fixed life insurance correct answer: contracts that offer guaranteed minimum or fixed benefits deferred correct answer: withheld or postponed until a specified time or event in the future endow correct answer: the cash value of a w...

Exam FX Life Insurance Test Questions with accurate answers. 100% Verified

EXAM FX Life Types of Insurance Policies Questions and answers latest update 2024