Renewable term life - Study guides, Class notes & Summaries

XCel 2-15 florida life & health state exam simulator/Answered/A+ Rated XCel 2-15 florida life & health state exam simulator/Answered/A+ Rated what is considered to be a characteristic of an immediate annuity benefit payments start within one payment period of purchase 3 MULTIPLE CHOICE OPTIONS which of these characteristics is consistent with a straight life policy premiums are payable for as long as there is insurance coverage in force 3 MULTIPLE CHOICE OPTIONS an insureds inability t...

Vivian buys a life insurance policy in which the insurer pays policyholders dividends based on how well the life insurer is doing. If the insurer is profitable, Vivian will receive dividends. If the insurer underperforms financially, Vivian and other policyholders will receive fewer dividends. Indicate the type of insurance policy Vivian purchased. A. Variable life insurance. B. Participating life insurance. C. Limited-pay life insurance. D. Non-participating life insurance - B. Participa...

An insurer is REQUIRED to offer which of the following to each long-term care applicant at the time of purchase? Inflation protection Which of these riders will pay a death benefit if the insured's spouse dies? Family term insurance rider Brainpower Read More Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:00 / 0:15 Full screen Disability income plans which require that the insurer can NEVER change or alter premium rates are usually considered...

Arizona Life Insurance Exam Questions and Answers (Latest Update 2023) Verified Answers a whole life policy that provides a choice of dividend options include the following statement about dividends they accrue at a guaranteed rate they are deferred for one year they are not guaranteed they are guaranteed after the first year - Correct Answers they are not guaranteed When there is a named beneficiary on a life insurance policy, the death benefits 1. are directed to a trustee ...

An insurance producer selling a Variable Annuity whose cash value depends on the performance of an underlying investment account must be registered with: - ANSWER; The Financial Industry Regulatory Authority (FINRA, formerly the NASD) A life insurance policy whose cash value will fluctuate depending upon the performance of a separate account is: - ANSWER; Variable Life John Livingston owns a 30-Pay Life policy that he purchased at the age of 30. The cash value will equal the face amount of...

Replacing a life insurance policy correct answersWhen replacing a life insurance policy an insurance producer must submit a notice to both the applicant and the insurance producers own company regarding the replacement All must appear on all applications correct answersAgents name & signature, the name of the company and the agents license number disability benefits correct answersCan be delayed up to 90 days depending on the policy Transaction insurance correct answersIncludes all of t...

CA- PSI- Life, Accident & Health Exam With 100% Correct Answers 2023 Reduced Paid Up Nonforfeiture option provides new whole life policy at reduced face amount of protection. Provides coverage for longest time. Extended Term Nonforfeiture option provides new TERM policy with same face amount of coverage as original policy Guaranteed Lifetime Withdrawal Annuity rider that assures owner will at least get amount paid for the annuity Guaranteed Minimum Income Rider that gua...

Life Insurance Exam Questions with correct Answers 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? . An insured has a policy with a Waiver of Premium rider. The insured has suffered an illness that will prevent them for working for two years. When will their premiums be waived? The clause that defines and describ...

PSI life, accident, and health questions and answers 100% pass How long after being entitled to disability benefits will an individual be eligible to receive Medicare benefits? A. immediately B. 1 year C. 2 years D. At age 65 2 years What is the return of premium rider? A. an increasing amount of term insurance that always equals the total of premiums paid up to the current point B. a provision that allows the insured to cancel the policy in the first two years and have premiums refunded ...

What type of policy is typically issued without proof of insurability from the insured? - Answer-Group policy A whole life policy that requires that the Policyowner only pays premiums for a specified number of years is known as what type of policy? - Answer-Limited-pay whole life Who is entitled to the cash values in an insurance policy? - Answer-The Policyowner An insured receives a monthly summary for his life insurance policy. He notices that the cash value of the policy is significantl...