Spendthrift clause - Study guides, Class notes & Summaries
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PSI Practice Exam NJ Questions and Answers Graded A+
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PSI Practice Exam NJ Questions and 
 
Answers Graded A+ 
 
all of the following are ownership rights EXCEPT: 
A: changing the beneficiary of the policy 
B: borrowing funds against cash value 
C: switching the policy from on insured to another 
D: assigning all of the rights of the policy to another person C: switching the policy from on 
insured to another 
 
which of the following is characteristic of a non qualified plan: 
A: defined vesting schedule 
B: plan established by the employer 
C: pl...
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Florida 2-15 Insurance Exam Prep Quiz with correct Answers |Latest 2024/2025
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Florida 2-15 Insurance Exam Prep 
Quiz with correct Answers. 
In a 3 partner cross-purchase plan, how many policies need to be 
purchased in order to protect each partner against the loss of any other 
partner? ️ 6 
According to the NAIC Life Insurance Solicitation Model, when soliciting life 
insurance, a producer is required to provide a prospect with a ______ and a 
_______ specific to the product being marketed. ️ general buyer's guide; 
policy summary 
The Incontestable Clause states t...
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SC Life Insurance Exam questions with complete correct answers 2024
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The balance of the loan will be taken out of the death benefit - correct answer If a policy has a automatic loan provision, what happens if the insured dies before the loan is paid back? 
 
Inspection Report - correct answer An insurer receives a report regarding potential insured that includes financial status, hobbies, and habits. What type of report is that? 
 
Spendthrift Clause - correct answer The clause that protects the proceeds of a life insurance policy from creditors after the death o...
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SC Life Insurance Exam fully solved graded A+
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SC Life Insurance ExamThe balance of the loan will be taken out of the death benefit - correct answer If a policy has a automatic loan provision, what happens if the insured dies before the loan is paid back? 
 
Inspection Report - correct answer An insurer receives a report regarding potential insured that includes financial status, hobbies, and habits. What type of report is that? 
 
Spendthrift Clause - correct answer The clause that protects the proceeds of a life insurance policy from credi...
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South Carolina Life Insurance Exam With Guaranteed Accurate Answers
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The balance of the loan will be taken out of the death benefit - correct answer If a policy has a automatic loan provision, what happens if the insured dies before the loan is paid back? 
 
Inspection Report - correct answer An insurer receives a report regarding potential insured that includes financial status, hobbies, and habits. What type of report is that? 
 
Spendthrift Clause - correct answer The clause that protects the proceeds of a life insurance policy from creditors after the death o...
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SC Life Insurance Exam Questions & Answers 100% Solved
- Exam (elaborations) • 18 pages • 2024
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Inspection Report - ANSWER-An insurer receives a report regarding potential insured that includes financial status, hobbies, and habits. What type of report is that? 
 
Spendthrift Clause - ANSWER-The clause that protects the proceeds of a life insurance policy from creditors after the death of the insured is known as 
 
Term - ANSWER-Children's riders attached to whole life policies are usually issued as what type of insurance? 
 
Decreasing Term - ANSWER-An individual has just borrowed $10,00...
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Pennsylvania Life Insurance – Provisions Questions and Answers Already Passed
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Pennsylvania Life Insurance – 
Provisions Questions and Answers 
 
Already Passed 
 
Which of these is NOT a typical life insurance nonforfeiture option? 
Reduced paid-up option 
Extended term option 
Cash surrender option 
Life income settlement option Life Income Settlement Option 
 
A life insurance policy's waiver of premium rider has the ability to 
waive the premium payments in the event the insured becomes financially insolvent 
waive the premium payments in the event the insured becom...
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South Carolina Life Insurance Exam (questions and answers) 2024 updated
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The balance of the loan will be taken out of the death benefit - CORRECT ANSWER-If a 
policy has a automatic loan provision, what happens if the insured dies before the loan 
is paid back? 
Inspection Report - CORRECT ANSWER-An insurer receives a report regarding 
potential insured that includes financial status, hobbies, and habits. What type of report 
is that? 
Spendthrift Clause - CORRECT ANSWER-The clause that protects the proceeds of a 
life insurance policy from creditors after the d...
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NC Life Insurance Exam Practice Questions and Answers 100% Pass
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NC Life Insurance Exam Practice 
Questions and Answers 100% Pass 
Fraternal Benefit Society - Correct Answer ️️ -An organization of people who share a 
month ethnic, religious or vocational affiliation. They are entities they have no capital 
stock, have a representative form of government. They exist not for profit but solely for 
the benefit of their members and their beneficiaries and operate on a lodge system. 
Fraternal Benefit Societies - Correct Answer ️️ -Agents of these societie...
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Florida 2-15 Exam Answered 100% Correct
- Exam (elaborations) • 6 pages • 2023
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Florida 2-15 Exam Answered 100% Correct 
In a 3 partner cross-purchase plan, how many policies need to be purchased in order to protect each partner against the loss of any other partner? [Answer: 6 
 
According to the NAIC Life Insurance Solicitation Model, when soliciting life insurance, a producer is required to provide a prospect with a ______ and a _______ specific to the product being marketed. 
[Answer: general buyer's guide; policy summary 
 
The Incontestable Clause states that the in...
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