Hawaii life insurance Study guides, Class notes & Summaries

Accelerated Benefits - Answer-Riders attached to life insurance policies which allow death benefits to be used to cover nursing or convalescent home expenses Whole Life Insurance - Answer-Insurance that is kept in force for a person's entire life and pays a benefit upon the persons death, whenever that may be. Accidental Death Benefits - Answer-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. W...

Hawaii Life Insurance Exam new review

Hawaii Life Insurance Exam Already Graded A+ Accelerated Benefits ️Riders attached to life insurance policies which allow death benefits to be used to cover nursing or convalescent home expenses Whole Life Insurance ️Insurance that is kept in force for a person's entire life and pays a benefit upon the persons death, whenever that may be. Accidental Death Benefits ️A policy rider that states that the cause of death will be analyzed to determine if it complies with the policy d...

Which of these characteristics is consistent with a Straight Life policy? - Premiums are payable for as long as there is insurance coverage in force When must insurable interest exist for a life insurance contract to be valid? - Inception of the contract W is a 39-year old female who just purchased an annuity to provide income for life starting at age 60. All of these would be acceptable annuity choices except a(n) - Immediate annuity Which type of policy is considered to be overfund...

Accelerated Benefits - correct answer Riders attached to life insurance policies which allow death benefits to be used to cover nursing or convalescent home expenses Whole Life Insurance - correct answer Insurance that is kept in force for a person's entire life and pays a benefit upon the persons death, whenever that may be. Accidental Death Benefits - correct answer A policy rider that states that the cause of death will be analyzed to determine if it complies with the policy descriptio...

Hawaii Life Insurance Exam new review

Representations are written or oral statements made by the applicant that are - Considered true to the best of the applicant's knowledge The full premium was submitted with the application for life insurance, and the policy was issued two weeks later as requested. When does the policy coverage become effective? - As of the application date Which of the following is the best reason to purchase life insurance rather than annuities? - To create an estate Stranger-originated life insura...

Define defamation - It is an illegal practice to make any public statement or advertisement that contains false information or unsubstantiated criticisms about an insurance company intended to harm or malign. An individual received a quote from an insurance company that is a different rate from individuals in the same risk class. The insurance company may be accused of - Unfair Discrimination Which of these is not a required group life policy provision? -Free-Look -Grace period -Conve...

Amount of time to notify the Commissioner of insurers name change - 30 days Amount of time to report any civil or administrative action taken against a producer - 30 days Amount of time producers have to remit received premiums to the insurer - 30 days Keep records of continuing education completion - 4 years Keep records of all insurance transaction - 5 years Fine for each intentional violation in 6 month period - $5,000 Fine for each unintentional violation - $1,000 ...

Hawaii Life Insurance Exam Questions And Answers Accelerated Benefits Riders attached to life insurance policies which allow death benefits to be used to cover nursing or convalescent home expenses Whole Life Insurance Insurance that is kept in force for a person's entire life and pays a benefit upon the persons death, whenever that may be. Accidental Death Benefits A policy rider that states that the cause of death will be analyzed to determine if it complies with the policy desc...