What type of insurance policy pays the face amount at the end of the specified
period if the insured is still alive?
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Endowement policy
The entire contract includes the actual policy and the
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Application
,Simon has purchased a fixed immediate annuity. His payment amount will be
dependent upon principal, interest, and the contract's
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Income Period
Under the misstatement of age or gender provision, what happens if it is determined
at death that the insured's age or gender was misstated on a life insurance policy
application?
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Benefits are adjusted to an amount that the premium would have
purchased at the correct age or gender.
What would happen if a life insurance applicant is given a conditional receipt from an
insurance agent and then dies the next day?
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Claim will be paid if application is approved
Benefit that enables someone to defer the current receipt of income and have it paid
at a later date, potentially when at a lower tax bracket.
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, Deferred compensation option
Health insurance policy will typically cover
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preventative health services
For an individual long-term care policy there is an annual dollar limit for tax deduction
that is based on which of the following?
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Age
In an accident and heath plans, premiums paid less frequent than monthly require a
minimum grace period of at least
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31 days
Premium mode is a term used to describe the?
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, Frequency of the premium payment
Which approach predicts a person's earning potential and determines how much of
that amount would be devoted to dependents?
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Human life value approach
A life insurance policy that is subject to a contract interest rate is referred to as
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Universal Life
Why is relying solely on employer group life insurance generally considered
inadequate for most individual's needs?
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It is financially insufficient to cover end of life expenses.
Which of the following is characteristic of a non-qualified plan?
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period if the insured is still alive?
Give this one a try later!
Endowement policy
The entire contract includes the actual policy and the
Give this one a try later!
Application
,Simon has purchased a fixed immediate annuity. His payment amount will be
dependent upon principal, interest, and the contract's
Give this one a try later!
Income Period
Under the misstatement of age or gender provision, what happens if it is determined
at death that the insured's age or gender was misstated on a life insurance policy
application?
Give this one a try later!
Benefits are adjusted to an amount that the premium would have
purchased at the correct age or gender.
What would happen if a life insurance applicant is given a conditional receipt from an
insurance agent and then dies the next day?
Give this one a try later!
Claim will be paid if application is approved
Benefit that enables someone to defer the current receipt of income and have it paid
at a later date, potentially when at a lower tax bracket.
Give this one a try later!
, Deferred compensation option
Health insurance policy will typically cover
Give this one a try later!
preventative health services
For an individual long-term care policy there is an annual dollar limit for tax deduction
that is based on which of the following?
Give this one a try later!
Age
In an accident and heath plans, premiums paid less frequent than monthly require a
minimum grace period of at least
Give this one a try later!
31 days
Premium mode is a term used to describe the?
Give this one a try later!
, Frequency of the premium payment
Which approach predicts a person's earning potential and determines how much of
that amount would be devoted to dependents?
Give this one a try later!
Human life value approach
A life insurance policy that is subject to a contract interest rate is referred to as
Give this one a try later!
Universal Life
Why is relying solely on employer group life insurance generally considered
inadequate for most individual's needs?
Give this one a try later!
It is financially insufficient to cover end of life expenses.
Which of the following is characteristic of a non-qualified plan?
Give this one a try later!
