Fx life insurance - Study guides, Class notes & Summaries

An insured purchased a 10-year level term life policy that is guaranteed renewable and convertible. What happens at the end of the 10-year term? correct answer: The insured may renew the policy for another 10 years, but at a higher premium rate. Which of the following statements is TRUE concerning whole life insurance? correct answer: Lump-sum death benefits are not taxable. A corporation is the owner and beneficiary of the key person life policy. If the corporation collects the policy b...

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Exam Fx Texas Life and Health Insurance Exam Questions and Verified Answers.Exam Fx Texas Life and Health Insurance Exam Questions and Verified Answers.Exam Fx Texas Life and Health Insurance Exam Questions and Verified Answers.

If the insured dies during the grace period, what is the insurer obligated to pay? - correct answer -The face value of the policy , minus any owed premium.. Which type of life insurance policy generates immediate cash value? - correct answer -Single premium If an insurance company states that their policies are guaranteed by the existence of the insurance guaranty association, that would be considered what? - correct answer -An unfair trade practice In a survivorship life policy, when i...

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Exam FX Insurance- Wisconsin Life questions (Answered). 100% Accurate, Graded A An insurer decides to renew a policy but at a higher premium rate, starting on the renewal date. How many days in advance must the insured be notified? a) 30 b) 60 c) 90 d) 100 - -b How is the Commissioner of Insurance placed in office? a)By NAIC nomination b)Through a bid process c)An election at the same time that other state officials are selected d)An appointment by the Governor - -d An ins...