Sc life insurance - Study guides, Class notes & Summaries

SC Life Insurance Exam (Exam for SC licensure for producing insurance as an agent) 2024 Questions

South Carolina SC Life Insurance Exam 2024 Questions and Answers 2024 / 2025 (Verified Answers by Expert)

SC Life Insurance ExamThe balance of the loan will be taken out of the death benefit - correct answer If a policy has a automatic loan provision, what happens if the insured dies before the loan is paid back? Inspection Report - correct answer An insurer receives a report regarding potential insured that includes financial status, hobbies, and habits. What type of report is that? Spendthrift Clause - correct answer The clause that protects the proceeds of a life insurance policy from credi...

SC Life Insurance Exam 2024 Questions and Answers (Verified Answers)

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 - 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 Preferred - Answer Preferred Which of these is affected by the frequency of an insu...

The balance of the loan will be taken out of the death benefit - ANSWER If a policy has a automatic loan provision, what happens if the insured dies before the loan is paid back? Inspection Report - ANSWER An insurer receives a report regarding potential insured that includes financial status, hobbies, and habits. What type of report is that? Spendthrift Clause - ANSWER The clause that protects the proceeds of a life insurance policy from creditors after the death of the insured is known as

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 - ANSWERSGrace 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 Preferred - ANSWERSPreferred Which of these is affected by the frequency of an insuranc...

SC life insurance exam study set questions and answers

SC Life Insurance Exam Questions and Answers

The balance of the loan will be taken out of the death benefit - correct answer If a policy has a automatic loan provision, what happens if the insured dies before the loan is paid back? Inspection Report - correct answer An insurer receives a report regarding potential insured that includes financial status, hobbies, and habits. What type of report is that? Spendthrift Clause - correct answer The clause that protects the proceeds of a life insurance policy from creditors after the death o...