Incontestable clause - Study guides, Class notes & Summaries

Which of these is a method of determining the level of funds required for ongoing support in the event of the breadwinner's death? Financial loss value Human life value Assessment value Replacement value - Answer Human life value The Guaranty Association Act provides that when a Court Order of Liquidation exists, the insurer - Answer Is insolvent An individual most likely will have an insurable interest in insuring a person's life if - Answer An economic interest exists for t...

Life Insurance Exam QuestionsJ has a life policy with the Guaranteed Insurability rider. J has just celebrated their 42nd birthday and realizes that she wants to use her rider and buy more death benefit. Which of the following will apply to J's request? A: The insurer will allow J to add more insurance without proving insurability. B: The insurer will allow J to add more insurance pending a paramedical exam. C: The insurer will deny J's request to add more insurance. D: The insurer will al...

NJ Life Final Exam Questions and Answers 100% Pass Which of these is a method of determining the level of funds required for ongoing support in the event of the breadwinner's death? Financial loss value Human life value Assessment value Replacement value Human life value The Guaranty Association Act provides that when a Court Order of Liquidation exists, the insurer Is insolvent An individual most likely will have an insurable interest in insuring a person's life if An e...

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...

After a life insurance policy has been in force for more than _____ years the policy is considered incontestable. - 2 Years An accident and health insurance policy's premium requirements are set forth in which of the following provisions? - Consideration Clause Which of these would NOT be a valid reason to add the waiver of premium rider to a life insurance policy? - It allows a policy loan to cover premium payments if the policyowner becomes totally disabled. How can a group dental insu...

Life Insurance Exam Questions | With Correct Solutions | Latest Update 2024/2025 | Graded A+ J has a life policy with the Guaranteed Insurability rider. J has just celebrated their 42nd birthday and realizes that she wants to use her rider and buy more death benefit. Which of the following will apply to J's request? A: The insurer will allow J to add more insurance without proving insurability. B: The insurer will allow J to add more insurance pending a paramedical exam. C: The insur...

J has a life policy with the Guaranteed Insurability rider. J has just celebrated their 42nd birthday and realizes that she wants to use her rider and buy more death benefit. Which of the following will apply to J's request? A: The insurer will allow J to add more insurance without proving insurability. B: The insurer will allow J to add more insurance pending a paramedical exam. C: The insurer will deny J's request to add more insurance. D: The insurer will allow J to add more coverage ...

J has a life policy with the Guaranteed Insurability rider. J has just celebrated their 42nd birthday and realizes that she wants to use her rider and buy more death benefit. Which of the following will apply to J's request? A: The insurer will allow J to add more insurance without proving insurability. B: The insurer will allow J to add more insurance pending a paramedical exam. C: The insurer will deny J's request to add more insurance. D: The insurer will allow J to add more coverage pe...

Which of these is a method of determining the level of funds required for ongoing support in the event of the breadwinner's death? Financial loss value Human life value Assessment value Replacement value - Answer- Human life value The Guaranty Association Act provides that when a Court Order of Liquidation exists, the insurer - Answer- Is insolvent An individual most likely will have an insurable interest in insuring a person's life if - Answer- An economic interest exists for the ...

CT LIFE AND HEALTH STATE EXAM SIMULATOR 2024/ACTUAL QUESTIONS AND ANSWERS WITH CORRECT VERIFIED ANSWERS /A+ GRADE After a life insurance policy has been in force for more than years the policy is considered incontestable. Answer - 2 Years An accident and health insurance policy's premium requirements are set forth in which of the following provisions? Answer - Consideration Clause Which of these would NOT be a valid reason to add the waiver of premium rider to a life insurance policy? An...