Cash nonforfeiture option Study guides, Class notes & Summaries

Final Exam - Michigan Life and Health Latest Update with Verified Solutions 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 ter...

Life & Health License Test Texas Exam FX, Questions & Answers. 100% Accurate. What is the main purpose of the Seven-pay Test? - -It determines if the insurance policy is an MEC. Which of the following insurance arrangements will be appropriate for a parent buying a life insurance policy on a child where the parent is the policyowner? - -Third-party ownership Which of the following best defines the "owner" as it pertains to life settlement contracts? - -The policyowner of the life in...

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 death benefit, ...

PRIMERICA LIFE INSURANCE EXAM. All Most Examined Questions Bank with answers. 100% verified. Rated A. An insured purchased an insurance policy 5 years ago. Last year, she received a dividend check from the insurance company that was not taxable. This year, she did not receive a check from the insurer. From what type of insurer did the insured purchase the policy? a. mutual b. reciprocal c. nonprofit service organization d. stock - A. mutual funds not paid out after paying claims ...

South Carolina life insurance exam study set Questions and Answers 2024 Verified 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 - CORRECT ANSWER-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...

If a disability income policy contains a cost-of-living adjustment rider, benefits must typically be increased - correct answer at least once per year from when benefits begin Which of these statements regarding the extended term insurance nonforfeiture option in a life policy is accurate? - correct answer the premium to purchase the coverage comes from the policy's cash value Which of the following is not a reason for a business to buy key person life insurance? - correct answer an incre...

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...

defamation - Making a statement that is false or maliciously critical of the financial condition of an insurer is known as Business overhead expense policy - Which type of business insurance is meant to cover the costs of continuing to do business while the owner is disabled? the protection ends - 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, must have an appointed guardian -...

Florida life Insurance Prep Questions And Correct Answers Which of the following is an example of nonforfeiture option? - ANSWER reduced paid-up option All of the following statements about major medical benefits are true, EXCEPT: - ANSWER Benefits have no maximum limit What type of annuity has a cash value that is based upon the performance of it's underlying investment funds? - ANSWER variable An individual participant personally received eligible rollover funds from a profit-s...

LOMA 281 Exam with Complete Solutions Graded A+ Extended term life insurance nonforfeiture option - Answer-policy owner can discontinue paying premiums and use the policy's net cash surrender value to purchase term insurance. this term insurance is for the full coverage amount provided under the original policy for as long a term as the net cash surrender value can provide automatic premium loan option - Answer-insurer will automatically pay an overdue premium by making a loan against the p...