Delaware life insurance - Study guides, Class notes & Summaries

Delaware Life Insurance Verified Answers What is the benefit of choosing extended term as a nonforfeiture option? ️It has the highest amount of insurance protection Upon the death of the insured, the primary beneficiary discovers that the insured chose the interest only settlement option. What does this mean? ️The beneficiary will only receive payments of the interest earned on the death benefit If a life insurance policy has an irrevocable beneficiary designation, ️the benefi...

Accelerated Benefits - correct answer Riders attached to life insurance policies which allow death benefits to be used to cover nursing home expenses or convalescent home expenses Accidental Death Benefits - correct answer A policy rider that states that the cause of death will be analyzed to determine if it complies with the policy description of accidental death Accidental Death Insurance - correct answer An insurance policy that provides payment if the insured's death is the result of ...

What is the benefit of choosing extended term as a nonforfeiture option? - correct answer It has the highest amount of insurance protection Upon the death of the insured, the primary beneficiary discovers that the insured chose the interest only settlement option. What does this mean? - correct answer The beneficiary will only receive payments of the interest earned on the death benefit If a life insurance policy has an irrevocable beneficiary designation, - correct answer the beneficiary ...

Delaware Life Insurance Practice Exam Questions with 100% Verified Answers Insurable Receipt - CORRECT ANSWER-The reciept given to a life insurance applicant when the application is completed and the initial premium is received is called a(n) Representations - CORRECT ANSWER-Statements in the application for insurance that are believed to be true to the best of the applicants knowledge are Provide the annuitant with an interest rate that is lesser of the guaranteed or current rate - CO...

Accelerated Benefits - Riders attached to life insurance policies which allow death benefits to be used to cover nursing home expenses or convalescent home expenses Accidental Death Benefits - A policy rider that states that the cause of death will be analyzed to determine if it complies with the policy description of accidental death Accidental Death Insurance - An insurance policy that provides payment if the insured's death is the result of an accident. Accumilation Period - The time b...

Delaware Life Insurance Exam Terms!!!

Delaware Life Insurance Company Questions and Answers 2024 Insurance Policy - CORRECT ANSWER-A contract between a policyowner (and/or insured) and an insurance company which agrees to pay the insured or the beneficiary for loss caused by specific events Insured - CORRECT ANSWER-Person covered by the insurance policy; may or may not be the policyowner Insurer (Principal) - CORRECT ANSWER-The company who issues an insurance policy Lapse - CORRECT ANSWER-Policy termination due to nonpay...

Delaware Life Insurance Practice Exam Questions with 100% Verified Answers Insurable Receipt - CORRECT ANSWER-The reciept given to a life insurance applicant when the application is completed and the initial premium is received is called a(n) Representations - CORRECT ANSWER-Statements in the application for insurance that are believed to be true to the best of the applicants knowledge are Provide the annuitant with an interest rate that is lesser of the guaranteed or current rate - CO...