Kentucky life - Study guides, Class notes & Summaries

Kentucky Life and Health Insurance Exam (New 2024/ 2025 Update) Questions and Verified Answers| 100 % Correct| Grade A QUESTION The only party in an insurance contract that makes a legally enforceable promise is the insurance company. Because of this, insurance contracts are considered to be: conditional aleatory unilateral contracts of adhesion Answer: unilateral Insurance contracts are unilateral. This means that only one party (the insurer) makes any kind of ...

routes of non-parenteral medication - ️️topical- only affects area where it is applied rectal vaginal transdermal (patches) inhalation (inhaler) ophthalmic (eye drops) otic (ear drops) nasal Factors effecting nutrition: development:Infant - (birth to 1yr) - ️️nutritional needs rapid period of growth breast fed bottle fed solid foods pancreatic amylase lipids (9kcal/gram) - ️️Insoluble in water & blood simple compound Triglycerides (95% of lipids in diet) Classificat...

Kentucky Life Insurance State Exam Practice Questions with Answers (new 2024)

A product which can offer its owner a lifetime income stream is called an ____________. annuity S buys a $10,000 Whole Life policy in 2003 and pays an annual premium of $100. S dies 5 years later in 2008 and the insurer pays the beneficiary $10,500. What kind of rider did S include on the policy? return premium rider When does the agent give a premium receipt for a life insurance application? when the initial premium has been paid with the application A life insurance policyowner ...

When may an insurance company arbitrarily increase the rate of premium charged to a particular policy owner? A. Whenever its board of director votes to do so B. Never C. When state laws permit D. Only within 30 days of insurance B. Never A spouse's conversion privileges under a group policy are the same as the group member's EXCEPT A. insurability B. Conversion must be applied for within one month C. Premiums are based on attained age D. The amount to convert is always...

Kentucky Life Insurance Exam Prep| Questions and Verified Answers| 100 % Correct| Grade A (Latest 2024/ 2025 Update) Q: Universal Life Insurance Flexible premium, adjustable death benefits, accumulates cash values: earlier models have front-end load, later models have back end load. Insurance costs are debited and guaranteed and excess interest are credited. Q: Universal Life Death Benefit Option A Answer: Level death benefit throughout life of policy (can be increased with pr...

Kentucky Life Insurance State Exam Practice Questions with Certified Answers The premiums paid by an employer for his employee's group life insurance are usually considered to be Tax-deductible to the employer Which of these is NOT considered to be a cost connected with an individual's death? Business expenses These are all accurate statements regarding universal life insurance EXCEPT Policy loans are not permitted Which of these is NOT relevant when determining the amount of personal life...

Kentucky Life Exam and Health Insurance Test Exam 2024 Q&A Risk - CORRECT ANSWER-The uncertainty or chance of a loss occurring Pure Risk - CORRECT ANSWER-Refers to situations that can only result in a loss or no change. There is no opportunity for financial gain. It is the only type of risk that insurance companies are willing to accept. Speculative Risk - CORRECT ANSWER-Involves the opportunity for either loss or gain (Gambling). This type of risk is not insurable. Perils - CORRECT...

A. All the incidents of ownership in the policy belong to the donee. - In an outright gift of life insurance to a charity A. All the incidents of ownership in the policy belong to the donee. B. The donor retains the right to name a new beneficiary. C. The cash values in the policy belong to the donor. D. The premiums paid by the donor are not tax deductible. C. Making a formal request to the company for an insurance policy. - When signing the application form, the proposed insured is

The premiums paid by an employer for his employee's group life insurance are usually considered to be - Tax-deductible to the employer Which of these is NOT considered to be a cost connected with an individual's death? - Business expenses These are all accurate statements regarding universal life insurance EXCEPT - Policy loans are not permitted Which of these is NOT relevant when determining the amount of personal life insurance needed? - Local unemployment rate Who elects the governi...