Reinstatement provision Study guides, Class notes & Summaries
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Florida Life, Health and Variable Annuity Exam Correct !!
- Exam (elaborations) • 15 pages • 2023
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Entire Contract Provision - ANSWER found at the beginning of the policy, saying that the policy cannot refer to any outside documents as being part of the contract and prohibiting the insurer from making any changes to the policy after it has been issued. (can only make good changes not bad) 
 
Insuring Clause - ANSWER sets forth the company's basic promise to pay benefits upon the insured's death. 
 
Free-Look Provision - ANSWER gives policyowners the right to return the policy for a full pre...
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DELAWARE LIFE INSURANCE Q&A
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What is the benefit of choosing extended term as a nonforfeiture option? - Answer- It has the highest amount of insurance protection 
 
Upon the death of the insured, the primary beneficiary discovers that the insured chose the interest only settlement option. What does this mean? - Answer- The beneficiary will only receive payments of the interest earned on the death benefit 
 
If a life insurance policy has an irrevocable beneficiary designation, - Answer- the beneficiary can only be changed w...
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Texas Life Insurance Exam Questions and Answers with complete solutions
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Insurance 
(General concept) - ANSWER - transfers the risk of loss from an individual to an insurer 
- based on the principle of indemnity 
- based on the principle of risk (risk pooling) 
 
insurable interest 
(General Concept) - ANSWER - must exist at the time of the application 
- insuring one's own life, family member, or a business partner 
 
Solicitation and sales presentation - ANSWER - illustration- presentation of nonguaranteed elements 
- buyer's guide is generic information abo...
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NVLRR Exam Questions With Correct Answers
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72 - Answer Within how many hours after the occurrence of death shall the funeral director present the completed certificate of death to the local registrar? 
 
24 - Answer If cremated remains have not been claimed by the agent, the operator of a crematory may dispose of the remains after how many months? 
 
Semiannually - Answer Each licensed embalmer who has under his/her supervision a person serving as an apprentice embalmer must file a report of apprenticeship with the secretary of the Board...
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OHIO LIFE ONLY EXAM 2024 WITH 100% CORRECT ANSWERS
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OHIO LIFE ONLY EXAM 2024 WITH 100% CORRECT ANSWERS 
 
 
Which annuity payout option allows the policyowner to choose a pre-determined number of benefit payments? - correct answer Period certain 
 
What happens when an insurance policy is backdated? - correct answer The policy's probation period is earlier than the present 
 
What is an insurer required to do when faced with an error made under the Misstatement of Age provision? - correct answer Pay age-corrected benefits 
 
An insurer will acc...
And that's how you make extra money
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PSI INSURANCE EXAM 2024/2025 WITH 100% ACCURATE SOLUTIONS
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PSI INSURANCE EXAM 2024/2025 WITH 100% ACCURATE SOLUTIONS 
What is it called when a life insurance policy pays a multiple of the coverage amount when certain types of accidents occur? - Precise Answer multiple indemnity 
 
Upon the issuance of a conditional receipt for a renewal when the premium is paid AFTER the time granted by the insurer, what is the maximum amount of time for reinstatement of the policy? - Precise Answer 30 days 
 
Which of the following statements regarding a pure life annu...
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Delaware Life Insurance Exam | 200 Questions with 100% Correct Answers | Verified | Latest Update 2024
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What is the benefit of choosing extended term as a nonforfeiture option? - It has the highest amount 
of insurance protection 
Upon the death of the insured, the primary beneficiary discovers that the insured chose the interest only 
settlement option. What does this mean? - The beneficiary will only receive payments of the interest 
earned on the death benefit 
If a life insurance policy has an irrevocable beneficiary designation, - the beneficiary can only be 
changed with written permission o...
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PSI Insurance Exam Questions and Answers Latest 2024
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What must the policy summary in a life insurance policy include?1. conditional 
receipt and the insurer's home office address2. reserve deposits.3. the name and 
address of the insurance agent or broker4. definition of replacement. 
the name and address of the insurance agent or broker 
Which of the following statements is CORRECT about Medicare Supplement 
Insurance?1. An agent must provide an outline of coverage to an insured at the 
time of policy delivery.2. If an applicant has an existing ...
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PSI Insurance Exam Questions and Answers Rated A+
- Exam (elaborations) • 38 pages • 2024
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What is it called when a life insurance policy pays a multiple of the coverage amount when 
certain types of accidents occur? multiple indemnity 
Upon the issuance of a conditional receipt for a renewal when the premium is paid AFTER the 
time granted by the insurer, what is the maximum amount of time for reinstatement of the 
policy? 30 days 
Which of the following statements regarding a pure life annuity payout option is correct? 
This option provides the highest monthly income. 
Which of the ...
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Life and Health Insurance Exam (Missouri) Questions and Answers 100% Solved
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Life and Health Insurance Exam 
(Missouri) Questions and Answers 
100% Solved 
Insurance policies are considered aleatory contracts because: 
1)they are take it or leave it contracts 
2)both parties consent to the contract 
3)performance is conditioned upon a future occurence 
4)the contract is voidable upon proof of fraud ️️Performance is conditioned upon a future 
occurence, because there is an element of chance and potential for unequal exchange of value 
K failed to pay a renewal prem...
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