Accelerated death - Study guides, Class notes & Summaries

What amount will be paid under a policy where the insured misstated his/her age? - Answer- an amount the premium would have purchased at the correct age the acceptance of a credit life application requires the submission of a certificate of insurance to the insured within_____ days - Answer- 30 days which of these is considered to be a Living benefit option in a life insurance policy - Answer- Accelerated death benefit loans obtained by a policy owner against the cash value of a life in...

Which type of long-term care benefit would be most appropriate for a stroke victim who requires speech therapy administered at her home? - Answer-Home health care Which of the following is NOT a federal requirement of a qualified plan? - Answer-Employee must be able to make unlimited contributions Why are dividends from a mutual insurer not subject to taxation? - Answer-Because dividends are considered to be a return of premium The treasurer of XYZ Insurance Company discovers that the t...

defamation - correct answer Making a statement that is false or maliciously critical of the financial condition of an insurer is known as Business overhead expense policy - correct answer Which type of business insurance is meant to cover the costs of continuing to do business while the owner is disabled? the protection ends - correct answer Dorian exercised a nonforfeiture option by using his life policy's cash value to purchase an extended term insurance option. When the term insurance ...

Waiver of premium for disability benefit - A supplemental life insurance policy benefit under which the insurer promises to give up - to waive - its right to collect premiums that become due while the insured is totally disabled. Waiver of premium for payor benefit - A supplemental life insurance policy benefit under which the insurer agrees to waive its right to collect a policy's renewal premiums if the policyowner dies or becomes totally disabled. Disability income benefit - A suppleme...

Illinois Life & Health Insurance Exam Questions and Answers with Verified Solutions Accelerated Benefits Riders attached to life insurance policies that allow death benefits to be used to cover nursing or convalescent home expenses Accidental death benefits a policy rider that states that the cause of death will be analyzed to determine if it complies with the policy description of accidental death accidental death insurance an insurance policy that provides payment if the insureds death is th...

P completes an application for a $10,000 life policy, but does not give the producer the initial premium. P's coverage becomes effective when P receives the policy and pays the premium A potential client, age 40, would like to purchase a Whole Life policy that will accumulate cash value at a faster rate in the early years of the policy. Which of these statements made by the producer would be carrer? 20-Pay Life accumulates cash value faster than Straight Life How does an indexed...

Barbara's policy includes a rider which allows her to purchase additional insurance at specific dates or events without evidence of insurability. This rider is called a(n) Answers>>Guaranteed insurability rider A guaranteed insurability rider allows for the insured to purchase additional insurance at specific dates or events without evidence of insurability. Disability Income plans which require that the insurer can NEVER change or alter premium rates are usually considered Answers&...

Delaware Life Insurance Exam Terms!!!

Which type of long-term care benefit would be most appropriate for a stroke victim who requires speech therapy administered at her home? Home health care Which of the following is NOT a federal requirement of a qualified plan? Employee must be able to make unlimited contributions Why are dividends from a mutual insurer not subject to taxation? Because dividends are considered to be a return of premium The treasurer of XYZ Insurance Company discovers that the treasurer's company is being in...

Illinois Life & Health Insurance Exam