Examfx life - Study guides, Class notes & Summaries

A business owner was trying to obtain a bank loan to fund the purchase of a new business facility, but the bank required proof of additional assets to secure the loan. The business owner then decided to use her $250,000 life insurance policy to secure the loan. Which provision makes this possible? correct answer: Collateral Assignment Which of the following would be considered a nonmedical insurance application? correct answer: An application on which the medical information is completed by...

Examfx Life Simulated Exam | Questions with 100% Correct Answers | Latest Update 2024 | Verified

The entire contract includes all of the following EXCEPT... correct answer: A buyer's guide All of the following statements about indexed whole life insurance EXCEPT... correct answer: The death benefit is not increased What guarantees that the information explained in the insurance contract is true? correct answer: A Warranty The entire contract includes: correct answer: (1) the policy, (2) a copy of the application, and (3) any riders or amendments. Under an indexed whole life...

What type of life insurance policy provides permanent protection? correct answer: Whole life What type of annuity requires an agent to have a securities license? correct answer: Variable annuity Whole life insurance policies mature when the insured reaches the age of 100. If the owner of a whole life policy (the insured) dies at age 80, and there are no outstanding loans on the policy, what portion of the death benefit will be paid to the beneficiary? correct answer: The full death bene...

EXAMFX LIFE AND HEALTH EXAM NEWEST ACTUAL EXAM COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+ • "own occupation" - less restrictive than other definitions - ANSW..a brain surgeon has an accident and develops tremors in her right arm. which of the disability

ExamFX Life Insurance Final Exam Questions And Answers Rated A+ New Update Assured Satisfaction

What nonforfeiture option is automatically selected by the company if not chosen by the policyowner? correct answer: Extended term Is the beneficiary required to have insurable interest in the insured? correct answer: No. beneficiaries do not have insurable interest in the insured What dividend option is automatically selected by the company if not chosen by the policyowner? correct answer: Paid-up additions If a settlement option is not chosen by the policy owner or the beneficiary,...

ExamFX Life chapter 3 Latest Updated.

EXAMFX LIFE AND HEALTH EXAM NEWEST ACTUAL EXAM COMPLETE 300 QUESTIONS AND CORRECT DETAILED ANSWER1

EXAMFX LIFE INSURANCE FINAL EXAM