Primerica chapter - Study guides, Class notes & Summaries

Assignment transfer of rights of policy ownership contingent beneficiary a beneficiary who has second claim to the policy proceeds after the death of the insured (usually after death of the primary beneficiary) NAIC National Association of Insurance Commissioners Primary Beneficiary a beneficiary who has the first claim to the policy proceeds after the death of insured. Principal Amount the face value of the policy; the original amount invested before the earning...

Primerica Chapter 4 with complete verified solutions 2025.

A prospective insured receives a conditional receipt but dies before the policy is issued. The insurer will... - Pay the policy proceeds only if it would have issued the policy An insured pays a $100 premium every month for his insurance coverage, yet the insurer promises to pay $10,000 for a covered loss. What characteristic of an insurance contract does this describe? - Aleatory An Insurer neglects to pay a legitimate claim that is covered under the terms of the policy. What insurance pr...

Primerica Chapter 3: Life insurance policies Exam Questions With Verified Answers Attained Age - answerInsured's age at the time the policy is issued or renewed. Deferred - answerWitheld or postponed until a specific time or event in the future. Endow - answerto have cash value of a whole life policy reach the contractural face amount. Face Amount - answerThe amount of benefit stated in the LIP. Fixed Life Insurance Products - answercontracts that offer guaranteed minimum or fixed benefi...

Primerica Chapter 3: Life insurance policies Exam Questions With Verified Answers Attained Age - answerInsured's age at the time the policy is issued or renewed. Deferred - answerWitheld or postponed until a specific time or event in the future. Endow - answerto have cash value of a whole life policy reach the contractural face amount. Face Amount - answerThe amount of benefit stated in the LIP. Fixed Life Insurance Products - answercontracts that offer guaranteed minimum or fixed benefi...

What do individuals use to transfer their risk of loss to a larger group? - Answer- Insurance Best Describe the MIB - Answer- Nonprofit organization that maintains underwriting information on applicants for life and health insurance An Insurer neglects to pay a legitimate claim that is covered under the terms of the policy. What insurance principles has the insurer violated? - Answer- Consideration The term "illustration" in a life insurance policy refers to... - Answer- A presentatio...

Primerica Chapter 1 Questions Guide |100% Correct Answer| #VERIFIED What do individuals use to transfer their risk of loss to a larger group? *Ans* Insurance Best Describe the MIB *Ans* Nonprofit organization that maintains underwriting information on applicants for life and health insurance An Insurer neglects to pay a legitimate claim that is covered under the terms of the policy. What insurance principles has the insurer violated? *Ans* Consideration The term "illustration" in a...

Primerica Chapter 3: Life insurance policies Questions and Answers with Solutions

Primerica Chapter 3: Life insurance policies Exam Questions With Verified Answers Attained Age - answerInsured's age at the time the policy is issued or renewed. Deferred - answerWitheld or postponed until a specific time or event in the future. Endow - answerto have cash value of a whole life policy reach the contractural face amount. Face Amount - answerThe amount of benefit stated in the LIP. Fixed Life Insurance Products - answercontracts that offer guaranteed minimum or fixed benefi...

Primerica Session A Chapter 2 Contract Law (Chapter Quiz, Snap Shots, and review questions