Kentucky life - Study guides, Class notes & Summaries

The premiums paid by an employer for his employee's group life insurance are usually considered to be - Answer-Tax-deductible to the employer Which of these is NOT considered to be a cost connected with an individual's death? - Answer-Business expenses These are all accurate statements regarding universal life insurance EXCEPT - Answer-Policy loans are not permitted Which of these is NOT relevant when determining the amount of personal life insurance needed? - Answer-Local unemploymen...

KENTUCKY LIFE AND HEALTH INSURANCE ACTUAL /NEWEST 2024 WITH WELL SORTED QUESTIONS AND ANSWERS /GRADED A+/BEST FOR THAT GOOD GRADE

XCEL Kentucky Life and Health Final Exam Actual Questions and Answers 100% Verified

Kentucky Life Insurance Exam Already Rated A+ 4 Types of Life Insurance ️Permanent, Term, Industrial, Group Absolute, Voluntary, Complete Assignment ️Policy is given as a gift, policy owner has no means of recovering surrendered rights Accelerated Benefits Rider ️A life insurance rider that allows for the early payment of some portion of the policy's face amount should the insured suffer from a terminal illness or injury. Accidental Death Rider ️Provides for an additional am...

Final Exam Kentucky Life and Health Insurance Study Guide Exam New 2024 An insurance agent who replaces an existing policy by making false written or oral statements is committing the act of: - CORRECT ANSWER-twisting Which of the following risks are insurable? - CORRECT ANSWER-pure risk The federal income tax treatment of employer-provided group health insurance can be accurately described as: - CORRECT ANSWER-Employee's coverage paid for by the employer is tax-deductible to the emp...

Kentucky Life & Health Insurance Exam 2024 Verified and Tested Q&A Life insurance underwriting would consider which of these factors as unimportant? Age of the applicant Weight of the applicant Marital status of the applicant Gender of the applicant - CORRECT ANSWER-Marital status of the applicant The inducement of an insured to lapse, forfeit, or surrender an insurance policy by misrepresentation or misleading comparisons, in order to write a new policy, is known as: Rebating Twi...

Kentucky Life & Health Insurance Exam Prep Questions and Answers (Latest Update 2024)

Comprehensive Exam-Kentucky Life and Health Insurance Final Updated Exam 2024 Q&A All of the following are producer responsibilities to the applicant, except: - CORRECT ANSWER-Offering and selling only the lowest premium policy ___________ manufacture and sell insurance coverage in the form of policies or contracts of insurance. - CORRECT ANSWER-Insurers When both parties must perform certain duties and follow certain rules of conduct to make a contract enforceable refers to a(n) ___...

Kentucky Life Exam and Health Insurance Test Exam 2024 Q&A Risk - CORRECT ANSWER-The uncertainty or chance of a loss occurring Pure Risk - CORRECT ANSWER-Refers to situations that can only result in a loss or no change. There is no opportunity for financial gain. It is the only type of risk that insurance companies are willing to accept. Speculative Risk - CORRECT ANSWER-Involves the opportunity for either loss or gain (Gambling). This type of risk is not insurable. Perils - CORRECT...

Kentucky Life Insurance Exam Solved 100% Correct!! Elements of a Contract Competent parties, legal purpose, offer and acceptance, consideration Waiver Voluntary giving up of a known right or privilege, can be express or implied Estoppel A person is prohibited by virtue of his own past actions from claiming a right that would work to the detriment of another who relied on the past conduct Aleatory Contract a contract where the values exchanged may not be equal but depend on an uncertain...