Cash nonforfeiture option Study guides, Class notes & Summaries
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SC life insurance exam study set with complete solutions 2024
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An insurer will accept a premium from the insured and continue theicoverage in full force as though it 
was NOT late during which time period? 
 
Incontestable period 
Probation period 
Reinstatement period 
Grace period - Grace period 
 
A person who is a nonsmoker, of average weight, and in excellent health would most likely be in which risk classification? 
 
Standard 
Substandard 
Acceptable 
Preferred - Preferred 
 
Which of these is affected by the frequency of an insurance policy's pr...
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2024 2025 XCEL TESTING SOLUTIONS- LIFE AND HEALTH INSURANCE- WEIGHTED EXAM WITH 400 QUESTIONS AND CORRECT ANSWERS WITH RATIONALES (100% CORRECT DETAILED ANSWERS)
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XCEL TESTING SOLUTIONS- LIFE AND HEALTH INSURANCE- WEIGHTED EXAM WITH 400 QUESTIONS AND CORRECT ANSWERS WITH RATIONALES (100% CORRECT DETAILED ANSWERS) 
A whole life policy option where extended term insurance is selected is called a(n) 
- ANSWER-nonforfeiture option 
A nonforfeiture provision in a whole life policy that uses cash value to purchase 
term insurance equal to the existing amount of life insurance is called the extended 
term option. 
What happens if the insurer discovers th...
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NC LIFE insurance state exam questions and answers 100% pass
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NC LIFE insurance state exam questions and answers 100% pass CREDIT LIFE a special type of coverage written to the life of the debtor and pay off the balance of a loan in the event of the death of the debtor. 
BUY-SELL AGREEMENTS a legal contract that determines what will be done with a business in the event that an owner dies or becomes disabled. Otherwise known as a business continuation agreement 
INSURABLE INTEREST to purchase insurance the policy owner must face the possibility of losing mo...
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NEBRASKA INSURANCE EXAM 2024/2025 WITH 100% ACCURATE SOLUTIONS
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NEBRASKA INSURANCE EXAM 2024/2025 WITH 100% ACCURATE SOLUTIONS 
 
 
Who is protected with the "other insurance with this insurer" provision? - Precise Answer Insurance company 
 
A nonparticipating whole life insurance policy was surrendered for its $20,000 cash value. The total premiums paid had totaled $16,000. What were the federal income tax consequences to the policyowner on receipt of the cash value? - Precise Answer $16,000 was received tax-free and $4,000 as ordinary income 
 
After th...
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WA Life Insurance Study Questions with Complete Solutions
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WA Life Insurance Study Questions with 
 
Complete Solutions 
 
Which of these is NOT considered to be a common life insurance nonforfeiture option? a) Cash 
surrender b) Extended term insurance c) Reduced paid-up insurance d) Life income annuity 
d) Life income annuity 
 
All of the following riders can increase the death benefit amount EXCEPT a) Cost of living b) 
Waiver of Premium c) Accidental Death Rider d) Guaranteed Insurability b) Waiver of 
Premium 
 
Joanne has a $100,000 whole life po...
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Final Exam - Michigan Life and Health Insurance Actual Quiz with Correct Answers | latest 2024/2025
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Making a statement that is false or maliciously critical of the financial 
condition of an insurer is known as ️ defamation 
Which type of business insurance is meant to cover the costs of continuing 
to do business while the owner is disabled? ️ Business overhead 
expense policy 
Dorian exercised a nonforfeiture option by using his life policy's cash value 
to purchase an extended term insurance option. When the term insurance 
expires, ️ the protection ends 
To receive proceeds from a d...
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Alabama life and health || with 100% Errorless Solutions.
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Billy is the owner of a life insurance policy and has chosen a policy settlement option under which the company will pay the beneficiary (his widow) an income each month for as long as she lives. Payment stops at her death. Which settlement option has Billy selected? 
 
A. Fixed amount option 
B. Fixed period option 
C. Interest only option 
D. Life income option correct answers D. Life income option 
 
A man with an Accidental Death & Dismemberment (AD&D) policy having a Principal Sum of $100,0...
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Exam FX Life Insurance Final Exam questions with accurate answers. 100% Verified.
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Exam FX Life Insurance Final Exam questions with accurate answers. 100% Verified. 
 
 
A buyer's guide -ANS/QUIZ The entire contract includes all of the following EXCEPT... 
 
The death benefit is not increased -ANS/QUIZ All of the following statements about indexed whole life insurance EXCEPT... 
 
A Warranty -ANS/QUIZ What guarantees that the information explained in the insurance contract is true? 
 
(1) the policy, (2) a copy of the application, and (3) any riders or amendments. -ANS/QUIZ T...
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GA Life/Health Ins Exam Questions with 100% Correct
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GA Life/Health Ins Exam Questions 
with 100% Correct 
A claiment wants to bring a recovery action against an insurance company for a loss 
claimed under a policy. The action must be brought 
a) Within 2 years. 
b) Within 3 years. 
c) Immediately. 
d) Only within 60 days. - Correct Answer ️️ -b) Within 3 years. 
Some states require a provision limiting the time parameters in which a claimant may 
seek recovery from an insurer under a policy. Georgia requires legal action to be 
brought forth ...
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Xcel Solutions Life and Health Insurance Exam (Latest 2024/ 2025 Update) Questions and Verified Answers| 100% Correct| Grade A
- Exam (elaborations) • 35 pages • 2024
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Xcel Solutions Life and Health Insurance Exam (Latest 2024/ 2025 Update) Questions and Verified Answers| 100% Correct| Grade A 
 
Q: Which of these techniques will remove the risk of losing money in the stock market by never purchasing stocks? 
 
 
Answer: 
Risk avoidance 
Risk avoidance could eliminate the risk of losing money in the stock market by never investing in stocks. 
 
 
 
Q: Which of the following nursing home options would BEST suit an individual who needs some nursing care and supe...
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