Pa life insurance Study guides, Class notes & Summaries

PA Life Insurance License Exam (2024 / 2025) Actual Questions with Verified Answers, 100% Guarantee Pass

Pennsylvania Life Insurance - PA Laws & Rules Exam 2024 Actual Questions with Verified Answers, 100% Guarantee Pass (2024 / 2025)

PA LIFE INSURANCE EXAM 2024 WITH 100% CORRECT ANSWERS Single premium cash value policy can be described as.. - correct answer a policy that is paid up only after one payment All of the following are considered appropriate uses of life insurance.. - correct answer - attracting quality employees by offering a group life plan - protecting the business by covering key employees with life insurance - funding an entity buy sell agreement The do not call list offers exemption from all exc...

PA LIFE INSURANCE EXAM 2024/2025 WITH 100% ACCURATE SOLUTIONS

PA Life Insurance Exam (2024 / 2025) Actual Questions with Verified Answers, 100% Guarantee Pass

Karen is a producer who has obtained personal information about a client without having a legitimate reason to do so. Under the McCarran-Ferguson Act, what is the minimum penalty for this? - ANSWER $10,000 or up to one year in jail A type of insurer that is owned by its policyowners is called - ANSWER Mutual insurer What is considered to be the primary reason for buying life insurance? - ANSWER Provide death benefits

PA Life Insurance Latest 2024 Graded A+ Insurance Policy A contract between an insured and an insurance company which agrees to pay the insured for loss caused by specific events Insurer (Principal) The company who issues a policy of insurance Insured The person covered by the policy of insurance Policyowner The person who pays for the policy of insurance Beneficiary The person who receives the benefits from the policy of insurance Premium The money paid to the insurance compa...

an immediate annuity has been purchased with a single premium. when does the annuitant typically begin receiving benefit payments? - ANS 1 month An insurer will accept a premium from the insured and continue the coverage in full force as though it was NOT late during which time period? Incontestable period Probation period Reinstatement period Grace period - ANS Grace period The grace period is the amount of time an insurer continues coverage in full force and will accept the p...

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