Net single premium Study guides, Class notes & Summaries

Webce Insurance test questions and answers with complete Solution 100% Verified Latest 2024 Webce Insurance test questions and answers with complete Solution 100% Verified Latest 2024 Agent Thompson received a letter from the Department of Insurance asking her to provide proof of completing the continuing education requirements. Within how many days must Agent Thompson respond to the Department's inquiry? 20 30 10 45 10 days Abby lives in Ohio, where she is licensed as an insura...

immediate annuity - Jessica purchased an annuity with a single $175,000 premium payment, and payments began one month later. Based on these facts, what type of annuity did she purchase? Benefits are typically paid while the contract owner is alive - Compared with life insurance, which of the following statements regarding annuities is most correct? Mortality and interest assumptions - Actuaries calculate net single premiums based on which of the following?

Life & Health Insurance Exam Colorado Questions and Answers 100% Pass Traditional Whole Life - Correct Answer ️️ --Ordinary (Straight) Life -Limited-Pay & Single-Premium Whole Life -Adjustable Whole Life Ordinary (Straight) Life - Correct Answer ️️ --Until 100 or Death, whichever comes first -Permanent Protection -Rates & benefits based on law of large numbers (Mortality Rate) -Guaranteed, tax-deferred interest rate -Premium level, company's risk goes down as cash value goes up...

Net Single Premium correct answers Premium that a person must pay in a lump sum to receive all the benefits promised in the policy if no insurer expenses were considered Insurers will also consider which of the following in evaluating risk. correct answers Numerical rating system to evaluate the risk posed by proposed insureds Key difference between variable life and variable universal life insurance correct answers Variable life insurance require a fixed premium payable for the life of th...

Idaho Insurance Exam Questions and Answers 100% Correct Net Single Premium - CORRECT ANSWER-Premium that a person must pay in a lump sum to receive all the benefits promised in the policy if no insurer expenses were considered Insurers will also consider which of the following in evaluating risk. - CORRECT ANSWER-Numerical rating system to evaluate the risk posed by proposed insureds Key difference between variable life and variable universal life insurance - CORRECT ANSWER-Variable...

Traditional Whole Life - Answer -Ordinary (Straight) Life -Limited-Pay & Single-Premium Whole Life -Adjustable Whole Life Ordinary (Straight) Life - Answer -Until 100 or Death, whichever comes first -Permanent Protection -Rates & benefits based on law of large numbers (Mortality Rate) -Guaranteed, tax-deferred interest rate -Premium level, company's risk goes down as cash value goes up -Insurer keeps the cash value if death to offset risk -Lowest net cost in long run -Client h...

Idaho Insurance Exam Questions and Answers 100% AccurateIdaho Insurance Exam Questions and Answers 100% AccurateIdaho Insurance Exam Questions and Answers 100% Accurate Net Single Premium - ANSWER-Premium that a person must pay in a lump sum to receive all the benefits promised in the policy if no insurer expenses were considered Insurers will also consider which of the following in evaluating risk. - ANSWER-Numerical rating system to evaluate the risk posed by proposed insureds Key di...

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, ...

CT Life & Health Insurance Exam 2024 (XCEL SOLUTIONS & PROMETRIC) Questions and Answers (100%Correct). Laura added a children's rider to her life insurance policy. What type of coverage was added? - ANSWER Level term With life insurance, the needs approach is used primarily in determining - ANSWER How much life insurance a client should apply for A(n) __________ is a licensee who charges a fee for contracted insurance advisory services. - ANSWER Consultant Jonas is covered with disabilit...

NC Life insurance state exam study guide with complete solutions Term Insurance - Correct Answer ️️ -Used for Temporary Situations. Net cost highest in the long run. Premiums goes up every year based on current (attained)age. Term Insurance - Correct Answer ️️ -Expire's at a certain age/Time in the future. May be renewable up to a certain age or date with out a phyical Exam. Level Term Insurance - Correct Answer ️️ -Term insurance can be Renewed annually. Has a level Face Amo...