Life insurance pri - Study guides, Class notes & Summaries

1. The receipt given to a life insurance applicant when the application is completed and the initial premium is received is called a(n) Answer conditional receipt 2. Statements in the application for insurance that are believed to be true to the best of the applicant's knowledge are called Answer representations 3. An annuity is considered fixed when it does all of the following EXCEPT Answer - provides the annuitant with an interest rate that is the lesser of the guaranteed or current rate...

Primerica Life Insurance Practice Questions and Answers

In an insured's neighborhood, individuals are required to pay the fire department if called to their premises. This insured has a homeowner policy. How much will the policy pay for these fire department service charges? up to $500 When applying for an individual life insurance policy, an applicant states that he went to the doctor for nausea, but fails to mention that he was also having severe chest pains. What is this act called? Concealment Brainpower 0:15 / 0:15 The abandonme...

401 k plan - Answer A qualified retirement plan in which the employee can set aside a portion of their income with pre-tax dollars. Absolute Assignment v. Collateral Assignment - Answer Absolute: A permanent and irrevocable transfer of rights and/or benefits by the policyowner. Collateral: A temporary and/or revocable transfer of benefits by the policyowner. Accelerated Death Benefit - Answer Policy provision that allows full or partial payment of the policy's death be...

Life Insurance Primerica questions and answers latest top score. 401 tk tplan t- t tcorrect tanswer. t t tA tqualified tretirement tplan tin twhich tthe t employee tcan tset taside ta tportion tof ttheir tincome t with tpre-tax tdollars. Absolute tAssignment tv. tCollateral t Assignment t- t tcorrect tanswer. t t tAbsolute: tA tpermanent tand tirrevocable ttransfer t of trights tand/or tbenefits tby tthe tpolicyowner. t Collateral: tA ttemporary tand/or trevocable ttransfe...

Life Insurance Primerica Solved Exam |Question and Answer| 100% Correct 401 k plan *Ans* A qualified retirement plan in which the employee can set aside a portion of their income with pre-tax dollars. Absolute Assignment v. Collateral Assignment *Ans* Absolute: A permanent and irrevocable transfer of rights and/or benefits by the policyowner. Collateral: A temporary and/or revocable transfer of benefits by the policyowner. Accelerated Death Benefit *Ans* Policy provision that all...

Which will be included in a policy summary? -:- Premium amounts and surrender values Why should the producer personally deliver the policy when the first premium has already been paid? -:- To help the insured understand all aspects of the contract An insurance contract requires that both the insured and the insurer meet certain conditions in order for the contract to be enforceable. What contract characteristic does this describe? -:- Conditional If a policy includes a free-look p...

Life Insurance Primerica exam | Comprehensive Questions and Answers Latest Updated 2024/2025 With 100% Verified Solutions

Which will be included in a policy summary? - Answer Premium amounts and surrender values Why should the producer personally deliver the policy when the first premium has already been paid? - Answer To help the insured understand all aspects of the contract An insurance contract requires that both the insured and the insurer meet certain conditions in order for the contract to be enforceable. What contract characteristic does this describe? - Answer Conditional If a policy includes a free-...