Cash nonforfeiture option - Study guides, Class notes & Summaries

Xcel Solutions Life and Health Insurance Exam (Latest 2024/ 2025 Update) Questions and Verified Answers| 100% Correct| Grade A Q: Which of these techniques will remove the risk of losing money in the stock market by never purchasing stocks? Answer: Risk avoidance Risk avoidance could eliminate the risk of losing money in the stock market by never investing in stocks. Q: Which of the following nursing home options would BEST suit an individual who needs some nursing care and supe...

Exam FX Life Insurance Final Exam questions with accurate answers. 100% Verified. A buyer's guide -ANS/QUIZ The entire contract includes all of the following EXCEPT... The death benefit is not increased -ANS/QUIZ All of the following statements about indexed whole life insurance EXCEPT... A Warranty -ANS/QUIZ What guarantees that the information explained in the insurance contract is true? (1) the policy, (2) a copy of the application, and (3) any riders or amendments. -ANS/QUIZ T...

Final Exam - Michigan Life and Health Latest Update with Verified Solutions Making a statement that is false or maliciously critical of the financial condition of an insurer is known as defamation Which type of business insurance is meant to cover the costs of continuing to do business while the owner is disabled? Business overhead expense policy Dorian exercised a nonforfeiture option by using his life policy's cash value to purchase an extended term insurance option. When the ter...

Making a statement that is false or maliciously critical of the financial condition of an insurer is known as defamation Which type of business insurance is meant to cover the costs of continuing to do business while the owner is disabled? Business overhead expense policy Dorian exercised a nonforfeiture option by using his life policy's cash value to purchase an extended term insurance option. When the term insurance expires, the protection ends To receive proceeds from a death benefit, ...

Pennsylvania Life Insurance – Provisions Questions and Answers Already Passed Which of these is NOT a typical life insurance nonforfeiture option? Reduced paid-up option Extended term option Cash surrender option Life income settlement option Life Income Settlement Option A life insurance policy's waiver of premium rider has the ability to waive the premium payments in the event the insured becomes financially insolvent waive the premium payments in the event the insured becom...

South Carolina life insurance exam study set Questions and Answers 2024 Verified An insurer will accept a premium from the insured and continue theicoverage in full force as though it was NOT late during which time period? Incontestable period Probation period Reinstatement period Grace period - CORRECT ANSWER-Grace period A person who is a nonsmoker, of average weight, and in excellent health would most likely be in which risk classification? Standard Substandard Acceptable...

defamation - Making a statement that is false or maliciously critical of the financial condition of an insurer is known as Business overhead expense policy - Which type of business insurance is meant to cover the costs of continuing to do business while the owner is disabled? the protection ends - Dorian exercised a nonforfeiture option by using his life policy's cash value to purchase an extended term insurance option. When the term insurance expires, must have an appointed guardian -...

If a disability income policy contains a cost-of-living adjustment rider, benefits must typically be increased - correct answer at least once per year from when benefits begin Which of these statements regarding the extended term insurance nonforfeiture option in a life policy is accurate? - correct answer the premium to purchase the coverage comes from the policy's cash value Which of the following is not a reason for a business to buy key person life insurance? - correct answer an incre...

LOMA 281 Exam with Complete Solutions Graded A+ Extended term life insurance nonforfeiture option - Answer-policy owner can discontinue paying premiums and use the policy's net cash surrender value to purchase term insurance. this term insurance is for the full coverage amount provided under the original policy for as long a term as the net cash surrender value can provide automatic premium loan option - Answer-insurer will automatically pay an overdue premium by making a loan against the p...

Life & Health License Test Texas Exam FX, Questions & Answers. 100% Accurate. What is the main purpose of the Seven-pay Test? - -It determines if the insurance policy is an MEC. Which of the following insurance arrangements will be appropriate for a parent buying a life insurance policy on a child where the parent is the policyowner? - -Third-party ownership Which of the following best defines the "owner" as it pertains to life settlement contracts? - -The policyowner of the life in...