Xcel chapter 4 Study guides, Class notes & Summaries

Simnet Excel Chapter 4 Questions & answers with Complete solutions | Latest edition

Which statement regarding whole life insurance is accurate? Correct Answer: Insurance coverage can continue for life When a ten year renewable term life insurance policy issued at age 45 is renewed, the premium rate will be the current rate for Correct Answer: Ten year term insurance for a person aged 55 When would evidence of insurability be required for a person already covered with a variable universal life policy? Correct Answer: When the death benefit is increased Assets that back...

XCEL Chapter 4 questions with complete solutions 2023John and Mary have a handicapped child that is financially dependent upon them. The death of one of the parents would not be financially disastrous, however the death of both likely would be. Which policy would be best suited for them? Second-to-die policy An insurance policy written after 1988 that fails to pass the seven-pay test is known as a modified endowment contract What is the proper order of initial life insurance prem...

Simnet Excel Chapter 4 (1).

XCEL Chapter 4, Questions with accurate answers. Rated A. 2022/2023 John and Mary have a handicapped child that is financially dependent upon them. The death of one of the parents would not be financially disastrous, however the death of both likely would be. Which policy would be best suited for them? - Second-to-die policy An insurance policy written after 1988 that fails to pass the seven-pay test is known as - a modified endowment contract What is the proper order of initial life ...

XCEL Chapter 4, Questions with accurate answers. Rated A. 2022/2023 John and Mary have a handicapped child that is financially dependent upon them. The death of one of the parents would not be financially disastrous, however the death of both likely would be. Which policy would be best suited for them? - Second-to-die policy An insurance policy written after 1988 that fails to pass the seven-pay test is known as - a modified endowment contract What is the proper order of initial life ...

Simnet Excel Chapter 4.

XCEL Testing Chapter 4: Life Insurance - Provisions, Options, and Riders 2023 Entire Contract - ANSWER-States the insurance policy itself, any riders and endorsements/amendments and the application comprise the entire contract between all parties. Insurance cannot make changes to a policy. The entire contract provision is found at the beginning of every insurance policy issued. Only an authorized officer of the insurer is permitted to make changes to the contract. We cannot send you additiona...

John and Mary have a handicapped child that is financially dependent upon them. The death of one of the parents would not be financially disastrous, however the death of both likely would be. Which policy would be best suited for them? CORRECT ANS Second-to-die policy An insurance policy written after 1988 that fails to pass the seven-pay test is known as CORRECT ANS a modified endowment contract What is the proper order of initial life insurance premiums, from lowest to highest? CORRECT A...

XCEL Chapter 4 Exam Questions with Correct Answers Donald is the primary insured of a life insurance policy and adds a children's term rider. What is the advantage of adding this rider? A. Can be converted to permanent coverage without evidence of insurability B. Coverage can be different for each child C. Premiums on this rider are not required until the limiting age is reached D. Increases the policy's overall cash value - Answer-Can be converted to permanent coverage without evidence ...