Loma 281 module 2 exam Study guides, Class notes & Summaries

LOMA 281 Module 2 Study Exam Questions with Correct Answers 100% Solved Term Life insurance Insurance that provides a policy benefit if the insured dies during a specified period of time. Policy term The specified period of time for which a term life insurance policy provides coverage. Level Term life insurance A plan of term life insurance that provides a policy benefit that remains the same over the term of coverage. Decreasing term life insurance A plan of term life insurance th...

LOMA 281 Module 2 Study Exam Questions with Correct Answers 100% Solved Term Life insurance Insurance that provides a policy benefit if the insured dies during a specified period of time. Policy term The specified period of time for which a term life insurance policy provides coverage. Level Term life insurance A plan of term life insurance that provides a policy benefit that remains the same over the term of coverage. Decreasing term life insurance A plan of term life insurance th...

LOMA 281 Module 2 Exam Study Guide. Term Life insurance - answerInsurance that provides a policy benefit if the insured dies during a specified period of time. Policy term - answerThe specified period of time for which a term life insurance policy provides coverage. Level Term life insurance - answerA plan of term life insurance that provides a policy benefit that remains the same over the term of coverage. Decreasing term life insurance - answerA plan of term life insurance that provides...

LOMA 281 Module 2 Practice Questions and Answers | 100% Pass Which type of whole life insurance policy will best be able to give Arabella lifetime protection without straining her retirement income? Single-premium whole life policy Limited-payment whole life policy Continuous-premium whole life policy - Answer️️ -B Financial needs life insurance can meet - Answer️️ -- paying household expenses - covering outstanding debts - Paying outstanding medical, hospital, and funeral expen...

LOMA 281 Module 3 Study Guide with Complete Solutions Waiver of premium for disability (WP) Benefit - Answer️️ -A supplemental life insurance policy benefit under which the insurer promises to give up—to waive—its right to collect premiums that become due while the insured is totally disabled. - satisfies a 3-6 month waiting period: meaning for the first 3-6 months the person must cover it The WP benefit typically defines total disability for the insured as being unable to perfor...