Viatical settlements - Study guides, Class notes & Summaries

Week 4 Discussion: Viatical Insurance Read the information on viatical insurance at Pros and Cons of Viatical Settlements. Take a position on whether you support or oppose viatical insurance. What is the role of courts in being a referee for activities related to viatical insurance?

Pennsylvania Laws and Rules Chapter 12 Questions and Answers Already Passed What is the purpose of the Pennsylvania Life and Health Insurance Guaranty Association? 1) Assist an applicant choose the best insurer 2) Assist an applicant choose the right amount of coverage 3) Provide each policyowner a buyer's guide and policy summary 4) Provide policyowner protection if an insurer becomes insolvent Provide policyowner protection if an insurer becomes insolvent Viatical settlement br...

PENNSYLVANIA LIFE ONLY EXAM 2024 WITH 100% CORRECT ANSWERS Which contract element is insurable interest a component of? - correct answer Legal purpose When calculating the amount of life insurance needed for an income earner, what has to be determined when using the Needs Approach? - correct answer The family's financial objectives if the income earner were to die or become disabled Agreements made by terminally ill persons to sell their life insurance policies at a discount in orde...

nevada life insurance exam questions and answers 100% correct During replacement of life insurance, a replacing insurer must do which of the following? A Send a copy of the Notice Regarding Replacement to the Department of Insurance B Obtain a list of all life insurance policies that will be replaced C Guarantee a replacement for each existing policy D Designate a new producer for a replaced policy - Answer- B Which of the following documents must be provided to the policyowner or applic...

Which contract element is insurable interest a component of? - Legal purpose When calculating the amount of life insurance needed for an income earner, what has to be determined when using the Needs Approach? - The family's financial objectives if the income earner were to die or become disabled Agreements made by terminally ill persons to sell their life insurance policies at a discount in order to pay medical expenses are called - Viatical settlements ______ is NOT an element of a valid...

During replacement of life insurance, a replacing insurer must do which of the following? A Send a copy of the Notice Regarding Replacement to the Department of Insurance B Obtain a list of all life insurance policies that will be replaced C Guarantee a replacement for each existing policy D Designate a new producer for a replaced policy - correct answer B Which of the following documents must be provided to the policyowner or applicant during policy replacement? A Buyer's Guide and...

Pennsylvania Life Only Questions and Answers Graded A+ Which of the following is a requirement for any change in an insurance application? Change must be initialed by the applicant. Agreements made by terminally ill persons to sell their life insurance policies at a discount in order to pay medical expenses are called: Viatical settlements What is an insurance policy's grace period? Period of time after the premium is due but the policy remains in force. The cause of a loss is...

Arizona Life Insurance Exam - Life Insurance Basics Rated A+ Beneficiary ️A person who receives the benefits of an insurance policy Death Benefit ️The amount paid upon the death of the insured in a life insurance policy Cash Value ️Equity amount accumulated in permanent life insurance Estate ️A person's net worth Illustrations ️Presentation or depiction of nonguaranteed elements of a life insurance policy Life Insurance ️Coverage on human lives Liquidation ️Selling a...

Which contract element is insurable interest a component of? Legal purpose When calculating the amount of life insurance needed for an income earner, what has to be determined when using the Needs Approach? The family's financial objectives if the income earner were to die or become disabled Agreements made by terminally ill persons to sell their life insurance policies at a discount in order to pay medical expenses are called Viatical settlements ______ is NOT an element of a valid contra...

Pennsylvania Life Only Final Exam Questions and Answers Already Passed Which contract element is insurable interest a component of? Legal purpose When calculating the amount of life insurance needed for an income earner, what has to be determined when using the Needs Approach? The family's financial objectives if the income earner were to die or become disabled Agreements made by terminally ill persons to sell their life insurance policies at a discount in order to pay medical expe...