Nevada life - Study guides, Class notes & Summaries

During replacement of life insurance, a replacing insurer must do which of the following? A Send a copy of the Notice Regarding Replacement to the Department of Insurance B Obtain a list of all life insurance policies that will be replaced C Guarantee a replacement for each existing policy D Designate a new producer for a replaced policy - ANSWER-B Which of the following documents must be provided to the policyowner or applicant during policy replacement? A Buyer's Guide and Policy S...

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term insurance Answer - temporary protection because it only provides coverage for a specific period of time face amount Answer - death benefit 3 basic types of term coverage Answer - level, increasing, decreasing - based on how the face amount changes during the policy term What is the premium in term insurance? Answer - regardless of type of term insurance purchased, premium is level throughout the term of policy level term insurance Answer - death benefit does not change throug...

Nevada Life and Health License Exam Prep Questions with 100% Correct Answers What are the four required elements of an insurance contract? - Answer- Agreement, consideration, competent parties, and legal purpose. What two parts make up a life insurance application? - Answer- General Information and the Medical Information. An agent's report can go in a life insurance application but is not included in the life insurance policy. When must insurable interest exist in life insurance? - Answ...

Nevada Life & Health Insurance Exam Questions and Answers 100% Pass term insurance - Answer- temporary protection because it only provides coverage for a specific period of time face amount - Answer- death benefit 3 basic types of term coverage - Answer- level, increasing, decreasing - based on how the face amount changes during the policy term What is the premium in term insurance? - Answer- regardless of type of term insurance purchased, premium is level throughout the term of policy ...

Nevada Life Insurance Questions and answers latest update

Health care accounts and Dependent care accounts - correct answer What are the 2 types of Flexible Spending Accounts? Cash value is guaranteed - correct answer Concerning a Whole Life Policy, which of the following statements is correct? Unearned premiums are retained by the insurance company - correct answer According to the rights of renewability rider for cancellable policies, all of the following are correct about the cancellation of an individual insurance policy EXCEPT Asset...

Nevada Life, Accident, Health Insurance Exam Practice Questions and Answers 100% CorrectNevada Life, Accident, Health Insurance Exam Practice Questions and Answers 100% CorrectNevada Life, Accident, Health Insurance Exam Practice Questions and Answers 100% CorrectNevada Life, Accident, Health Insurance Exam Practice Questions and Answers 100% Correct Health care accounts and Dependent care accounts - ANSWER-What are the 2 types of Flexible Spending Accounts? Cash value is guaranteed - ANSWER...

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