ALABAMA LIFE HEALTH REVIEW UPDATED 2026
QUESTIONS AND ANSWERS SURE A+
✔✔requires premium payments for a specified number of years or until a specified age
is reached - ✔✔A limited pay life policy
✔✔Whole life - ✔✔Which of the following policies could be expected to have the lowest
premium?
✔✔Are lower in the early years of the contract - ✔✔With a modified premium whole life
contract, premium payments
✔✔Cost of insurance protection is charged and current interest is credited - ✔✔In a
universal life policy, the two adjustments usually made to the cash value account are
✔✔Only if the child is permanently mentally or physically disabled before that age -
✔✔A child may be a dependent beyond the ages of 19 or 21
✔✔On his own life at certain specified ages without proof of insurability - ✔✔If Peyton's
policy on his life has a guaranteed insurability rider, it means that he can purchase more
insurance
, ✔✔Die within 90 days of the accident - ✔✔For the insurance company to pay the
accidental death benefit, most companies require that the insured
✔✔Can vary in amount as well as payment schedule - ✔✔Premiums for a variable
universal life policy
✔✔1. a life license
2. a variable life license
3. a Series 6 or 7 Securities license - ✔✔A producer must hold how many
license/licenses to market a variable product?
✔✔Called the living benefits of life insurance - ✔✔Loan values and retirement income
are
✔✔Applies if it is a regularly scheduled commercial airline - ✔✔If the insured is killed in
an airplane accident, the accidental death benefit
✔✔Makes a service charge when the policy is surrendered - ✔✔A universal life policy
with a back=end load
✔✔the minimum allowable risk corridor - ✔✔When considering the adjustable death
benefit on a current assumption policy the most important consideration is ?
✔✔Guaranteed interest plus excess interest - ✔✔The current rate of interest paid to the
cash value account of a universal life policy consists of
✔✔Endow an pay the full face amount - ✔✔Whole life policies provide coverage for life
an at a certain age if the insured is still living the policy will?
✔✔1. Cash or accumulate the dividend at interest
2. Apply the dividend to reduce the premiums
3. Apply some of the additions to buy paid up additions and the rest to one-year term
coverage. - ✔✔An insured may select which of the following dividend options should the
insurer declare a dividend?
✔✔1. Cash
2. Reduced Paid-Up coverage
3. Extended Term - ✔✔If a policy is lapsed or surrendered the insured may elect which
of the following options?
✔✔Will automatically institute the extended term option - ✔✔An insured allows a
permanent policy to lapse. Unless otherwise instructed, the insurance company
QUESTIONS AND ANSWERS SURE A+
✔✔requires premium payments for a specified number of years or until a specified age
is reached - ✔✔A limited pay life policy
✔✔Whole life - ✔✔Which of the following policies could be expected to have the lowest
premium?
✔✔Are lower in the early years of the contract - ✔✔With a modified premium whole life
contract, premium payments
✔✔Cost of insurance protection is charged and current interest is credited - ✔✔In a
universal life policy, the two adjustments usually made to the cash value account are
✔✔Only if the child is permanently mentally or physically disabled before that age -
✔✔A child may be a dependent beyond the ages of 19 or 21
✔✔On his own life at certain specified ages without proof of insurability - ✔✔If Peyton's
policy on his life has a guaranteed insurability rider, it means that he can purchase more
insurance
, ✔✔Die within 90 days of the accident - ✔✔For the insurance company to pay the
accidental death benefit, most companies require that the insured
✔✔Can vary in amount as well as payment schedule - ✔✔Premiums for a variable
universal life policy
✔✔1. a life license
2. a variable life license
3. a Series 6 or 7 Securities license - ✔✔A producer must hold how many
license/licenses to market a variable product?
✔✔Called the living benefits of life insurance - ✔✔Loan values and retirement income
are
✔✔Applies if it is a regularly scheduled commercial airline - ✔✔If the insured is killed in
an airplane accident, the accidental death benefit
✔✔Makes a service charge when the policy is surrendered - ✔✔A universal life policy
with a back=end load
✔✔the minimum allowable risk corridor - ✔✔When considering the adjustable death
benefit on a current assumption policy the most important consideration is ?
✔✔Guaranteed interest plus excess interest - ✔✔The current rate of interest paid to the
cash value account of a universal life policy consists of
✔✔Endow an pay the full face amount - ✔✔Whole life policies provide coverage for life
an at a certain age if the insured is still living the policy will?
✔✔1. Cash or accumulate the dividend at interest
2. Apply the dividend to reduce the premiums
3. Apply some of the additions to buy paid up additions and the rest to one-year term
coverage. - ✔✔An insured may select which of the following dividend options should the
insurer declare a dividend?
✔✔1. Cash
2. Reduced Paid-Up coverage
3. Extended Term - ✔✔If a policy is lapsed or surrendered the insured may elect which
of the following options?
✔✔Will automatically institute the extended term option - ✔✔An insured allows a
permanent policy to lapse. Unless otherwise instructed, the insurance company
