Alabama state insurance Study guides, Class notes & Summaries

if lousie allows her whole life policy to lapse which nonforfeiture option shoild she elect to obtain the most life insurance protection? - correct answerExtended term option If administrative action is taken against you, or you are criminally prosecuted in another jurisdiction, you have how long to submit a notice to the Alabama commissioner? - correct answer r30 days How can 'key employee' disability income insurance purchased by business be used by the business - correct answerBoth...

Alabama State Insurance Exam

Alabama State Insurance Exam FX Questions & Answers. If a producer changes his residential address who must he/she notify? This change will need to be reported to the Commissioner. Which of the following is NOT true regarding minors purchasing insurance policies in this state? Minors at the age of 14 are allowed to buy their own policies. What is the penalty for IRA distributions that are below the required minimum for the year? 50% All of the following are business uses of life insuran...

A. 10-pay life policy Which policy accumulates cash value at the fastest rate? Estoppel The legal doctrine that prevents one from exercising a right of privilege is called contains a grace period. If the consideration clause states that the premium payment keeps the policy in force until the next premium is due plus 30 days thereafter, the policy The Commissioner can immediately cancel the producer's license based upon the Company's allegation of wrong doing by the prod...

Alabama State Insurance Exam FX Questions & Answers. If a producer changes his residential address who must he/she notify? This change will need to be reported to the Commissioner. Which of the following is NOT true regarding minors purchasing insurance policies in this state? Minors at the age of 14 are allowed to buy their own policies. What is the penalty for IRA distributions that are below the required minimum for the year? 50% All of the following are business uses of life insuran...

Alabama State Insurance Exam

If a producer changes his residential address who must he/she notify? - This change will need to be reported to the Commissioner. Which of the following is NOT true regarding minors purchasing insurance policies in this state? - Minors at the age of 14 are allowed to buy their own policies. What is the penalty for IRA distributions that are below the required minimum for the year? - 50% All of the following are business uses of life insurance EXCEPT - Funding against general company financ...

Chapter 8 A D Banker Alabama State Insurance Law (Code) Exam Questions and Answers