Indiana life and health - Study guides, Class notes & Summaries

An architecture firm would stand to lose a lot of money in the event of the death of its project manager. Which type of policy should the firm purchase on its project manager? - ANSWER Universal life insurance Key Person insurance Graded insurance Executive insurance Correct. Key person insurance is a type of life insurance policy that provides a death benefit to a business if its owner or another significant employee passes away. If a retiree on Medicare required five hospital stays in o...

Indiana Life and Health Insurance Final Exam With Complete Solutions

Indiana Life and Health Insurance Test with 100- Verified Questions and Answers.

Insurance Commissioner - correct answer • Appointment by Governor • Member of NAIC Insurance commissioner Duties - correct answer responsible for overseeing the Department of Insurance, which regulates insurance companies operating in Indiana. works to promote improvements to insurance laws and the enforcement of said laws in Indiana.[ Certificate of Authority - correct answer Licensed companies receive a _______________________________ to conduct the business of insurance or operate...

2024 INDIANA LIFE AND HEALTH INSURANCE (LEARN AS YOU GO) EXAM WITH 100% CORRECT ANSWERS

Insurance Commissioner - Answer-• Appointment by Governor • Member of NAIC Insurance commissioner Duties - Answer-responsible for overseeing the Department of Insurance, which regulates insurance companies operating in Indiana. works to promote improvements to insurance laws and the enforcement of said laws in Indiana.[ Certificate of Authority - Answer-Licensed companies receive a _______________________________ to conduct the business of insurance or operate as a health maintenance ...

Which of these is NOT considered to be a right given to a policyowner? - ANSWER Modify a provision in the insurance contract M completes an application for life insurance but does not pay the initial premium. All of these actions must occur before M's policy goes into effect, EXCEPT: - ANSWER Free-look period has expired Which of these actions does NOT constitute life insurance policy replacement? - ANSWER Convert term coverage to a

J is 35-years old and looking to purchase a whole life insurance policy. Which of the following types of policies will provide the most rapid growth of cash value? -Life paid-up at age 70 -20 pay life -increasing Term to age 65 -Straight Line - ANSWER 20 Pay Life Which of the following types of policies BEST identifies one in which the cash value may fluctuate to reflect changing assumptions regarding mortality cost, interest, and expense factors? -Universal Life - Endowment Life -Mo...