Irrevocable beneficiary Study guides, Class notes & Summaries

TENNESSEE LIFE INSURANCE TEST EXAM 2024 WITH 100% CORRECT ANSWERS What kind of life insurance beneficiary requires his/her consent when a change of beneficiary is made? A. Irrevocable beneficiary B. Tertiary beneficiary C. Primary beneficiary D. Revocable beneficiary - correct answer When can a policyowner change a revocable beneficiary? A. Anytime B. After the consent of the current beneficiary C. Never D. Only if primary beneficiary dies - correct answer K has a life insuran...

What kind of life insurance beneficiary requires his/her consent when a change of beneficiary is made? *Irrevocable beneficiary *Tertiary beneficiary *Primary beneficiary *Revocable beneficiary *Irrevocable beneficiary (An irrevocable designation may not be changed without the written consent of the beneficiary.) When can a policyowner change a revocable beneficiary? *Anytime *After the consent of the current beneficiary *Never *Only if primary beneficiary dies *Anytime

LLQP Practice Exam 150 Questions and Answers (100%Verified). What kind of life insurance beneficiary requires his/her consent when a change of beneficiary is made? *Irrevocable beneficiary *Tertiary beneficiary *Primary beneficiary *Revocable beneficiary - ANSWER *Irrevocable beneficiary (An irrevocable designation may not be changed without the written consent of the beneficiary.) When can a policyowner change a revocable beneficiary? *Anytime *After the consent of the current benefi...

NC LIFE insurance state exam questions and answers 100% pass CREDIT LIFE a special type of coverage written to the life of the debtor and pay off the balance of a loan in the event of the death of the debtor. BUY-SELL AGREEMENTS a legal contract that determines what will be done with a business in the event that an owner dies or becomes disabled. Otherwise known as a business continuation agreement INSURABLE INTEREST to purchase insurance the policy owner must face the possibility of losing mo...

Primerica - Exam test Questions With 100% Correct Answers 2023 An insurer has made all of the decisions regarding the provisions included in the insured's policy. The insured finds an objectionable provision and wants to negotiate it with the insurer but is not allowed to do so. Her only options are to reject the policy or accept it as is. Which contract feature does this describe? a) Unilateral b) Conditional c) Personal d) Adhesion - Correct answer-Adhesion An insurance policy that ...

LLQP Practice Exam 150 Questions and Answers (100%Verified). What kind of life insurance beneficiary requires his/her consent when a change of beneficiary is made? *Irrevocable beneficiary *Tertiary beneficiary *Primary beneficiary *Revocable beneficiary - ANSWER *Irrevocable beneficiary (An irrevocable designation may not be changed without the written consent of the beneficiary.) When can a policyowner change a revocable beneficiary? *Anytime *After the consent of the current benefi...

What kind of life insurance beneficiary requires his/her consent when a change of beneficiary is made? A. Irrevocable beneficiary B. Tertiary beneficiary C. Primary beneficiary D. Revocable beneficiary - Answer- When can a policyowner change a revocable beneficiary? A. Anytime B. After the consent of the current beneficiary C. Never D. Only if primary beneficiary dies - Answer- K has a life insurance policy where her husband is beneficiary and her daughter is contingent beneficiary...

A funeral prearrangement life insurance agent must be supervised - Answer- By a legal reserve life insurance agent whose company holds a seller's permit. The maximum initial guaranteed death benefit that a funeral prearrangement life insurance agent may sell is - Answer- $15,000 A funeral prearrangement life insurance agent license expires when the agent - Answer- Fails to submit a biannual renewal application and fee When an application for an insurance agent license is denied, except...

LLQP Practice Exam 150 Questions and Answers (100%Verified). What kind of life insurance beneficiary requires his/her consent when a change of beneficiary is made? *Irrevocable beneficiary *Tertiary beneficiary *Primary beneficiary *Revocable beneficiary - ANSWER *Irrevocable beneficiary (An irrevocable designation may not be changed without the written consent of the beneficiary.) When can a policyowner change a revocable beneficiary? *Anytime *After the consent of the current benefi...

GA Life Insurance Exam Questions Reviewed And Revised With Correct Answers <Guarantee Pass |Updated!!> The Common Disaster Clause provides that if both the insured and the sole named beneficiary were to die in a common accident, which of the following is true? - ANSWER the clause provides the payment of proceeds to the insured's estate A policy owner would like to change the beneficiary on a Life insurance policy and make the changes permanent. Which type of d...