Nj life producer - Study guides, Class notes & Summaries

NJ Life Producer Exam - Insurance and Laws | 2024 Questions & Answers | 100% Correct | Verified

Renewable Term Life Insurance - ACCURATE ANSWERS An insurer must renew a renewable term policy at the policyowner's request regardless of the insurability status of the insured. Fixed-amount - ACCURATE ANSWERS The settlement option that provides for payments to be made in regular installments to a beneficiary until the principal and interest are exhausted best describes: Must give public reasonable access. - ACCURATE ANSWERS What hours of operation is a branch office required to have? ...

NJ Life Producer 2024 Questions & Answers | 100% Correct | Verified

NJ Life Producer Exam Study Life Insurance Renewable Term Life Insurance - correct answer An insurer must renew a renewable term policy at the policyowner's request regardless of the insurability status of the insured. Fixed-amount - correct answer The settlement option that provides for payments to be made in regular installments to a beneficiary until the principal and interest are exhausted best describes: Must give public reasonable access. - correct answer What hours of operation ...

NJ Life Producer Test Questions and Answers All Correct Term Life Policy - Answer-Temporary coverage for set duration w/ death benefit ONLY (no cash value), offers largest $ for lowest premium. Cannot borrow. Level Term Life Insurance Policy - Answer-A term life insurance policy in which the death benefit remains unchanged throughout the life of the policy Increasing Term Life Insurance - Answer-Term life insurance that provides a death benefit that starts at one amount and increases by s...

NJ Life Producer Exam Questions And Revised Correct Answers Which of the following amounts must decrease in a decreasing term? - ANSWER : Death benefit In life insurance, insurable interest must exist at the time the.. - ANSWER : Producer writes an on a proposed insured An applicant makes an offer to the insurer when they - ANSWER : pay an initial premium with the application Which of the following makes Universal Life insurance different from other forms of permanent insuran...

Renewable Term Life Insurance - Answer An insurer must renew a renewable term policy at the policyowner's request regardless of the insurability status of the insured. Fixed-amount - Answer The settlement option that provides for payments to be made in regular installments to a beneficiary until the principal and interest are exhausted best describes: Must give public reasonable access. - Answer What hours of operation is a branch office required to have? Amount of indeptnes...

NJ Life Producer Exam Study Life Insurance Solutions Update 2024NJ Life Producer Exam Study Life Insurance Solutions Update 2024

Under a Traditional IRA, interest earned is taxed - Answer upon distribution Which of these statements regarding the annuitants is CORRECT? - Answer The annuitant's life expectancy determines the annuity payment What will the beneficiary receive is annuitant dies during the accumulation period? - Answer The greater the accumulated cash value or the total premium paid Which of the following actions is REQUIRED by an agent who is replacing an existing life insurance policy? - Answe...

The Waiver of Cost of Insurance rider is found in what type of insurance? - Universal Life If an insured continually uses the automatic premium loan option to pay the policy premium, - The policy will terminate when the cash value is reduced to nothing If a settlement option is not chosen by the beneficiary or policyowner, which option will be used? - Lump sum An insured misstates her age at the time the life insurance application is taken. This misstatement may result in - adjustment in t...