Primerica exam 2 - Study guides, Class notes & Summaries

Primerica Life Insurance Exam: 2023/ 2024 New Update (Questions and 100% Verified Answers) 1. A married couple owns a permanent policy which covers both of their lives and pays the benefit only upon the death of the first insured. Which policy is that? A. Survivorship Life Policy B. Second-to-Die C. Family income policy D. Joint life policy Answer: D. Joint life policy 2. An annuity owner is funding an annuity that will supplement her retirement. Because she does not...

1. An annuity that is purchased with a lump sum premium and whose benefits begin after 12 months is called a: A. Single premium immediate annuity. B. Single premium deferred annuity. C. Level premium variable annuity. D. Flexible premium fixed annuity. Answer - Single premium deferred annuity 2. A technique used to determine the amount of life insurance needed by focusing on the projected earning potential of an insured is called the: A. Needs approach. B. Future income option. C. Hu...

Guaranteed insurability optionAnswer - An individual is purchasing a permanent life insurance with a face value of $25,000. While this is all the insurance that he can afford at this time, he wants to be sure that additional coverage will be available in the future. Which of the following options should be included in the policy? Both the principal and interest will be liquidated over a selected period of time.Answer - Which of the following best describes fixed-period settlement option? ...

A rider that may be attached to a life insurance policy that will adjust the face amount based upon a specific index, such as the Consumer Price Index, is called - Answer- Cost of living rider. What method is used to determine the taxable portion of each annuity payment? - Answer- The exclusion ratio The ratio of the total investment in that contract to the expected return is developed to determine the portion of the annuity payment that will be taxable and nontaxable. A set of legal or ...

Primerica exam 2 with correct answers

Primerica exam 2

PRIMERICA LIFE INSURANCE EXAM 2024 ACTUAL EXAM 2 VERSIONS (VERSION A AND B) COMPLETE 500 QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) / ALREADY GRADED A+

Primerica Exam 2 Questions and Complete Solutions Graded A+

Primerica exam 2023 with 100% correct answers

Primerica exam 2023 with 100% correct answers