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Primerica - Life Insurance Policy Provisions, Options & Riders (AZ) Questions and Answers 2024
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Primerica - Life Insurance Policy Provisions, Options & Riders (AZ)
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Primerica - Life Insurance PolicyProvisions, Options & Riders (AZ)
Which life insurance settlement option guarantees payments for the lifetime of the
recipient, but also specifies a guaranteed period, during which, if the original recipient
dies, the payments will continue to a designated beneficiary?
A - Fixed-amount
B - Life income with period certain
C - Joint and survivor
D - Single life - answerB - Life income with period certain
The life income with period certain option guarantees payments for the life of the
recipient and also specifies a guaranteed period of continued payments. If the recipient
should die during this period, the payments would continue to a designated beneficiary
for the remainder of the period.
The policyowner wants to make sure that upon his death, the life policy will pay a
portion of the proceeds annually to his spouse, but that the principal will be paid to their
children when they reach a certain age. Which settlement option should the policyowner
choose?
A - Interest only option
B - Life income with period certain
C - Joint and survivor
D - Fixed amount option - answerA - Interest only option
With the interest-only option, the insurance company retains the policy proceeds and
pays interest on the proceeds to the recipient (beneficiary) at regular intervals.
Who has the legal title of the property in a trust?
A - Beneficiary
B - Guardian
C - Trustee
D - Grantor - answerC - Trustee
The person who receives the legal title of the property to be used for the benefit of the
trust beneficiary is called the "trustee".
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