FL 2-15 types of life insurance policies
A coverage states that it will pay a specified face amount if the insured dies at some stage in the
20-year top rate-paying length and nothing if loss of life takes place after the 20-yr duration.
What sort of coverage is that this? - ANS-20-12 months degree term
a whole life coverage that calls for that the policyowner simplest will pay premiums for a
particular number of years is known as what form of policy? - ANS-restrained-pay whole
lifestyles
an annuity purchased with multiple bills that begin earnings bills after 365 days from the
moment of purchase is called what kind of annuity? - ANS-bendy top rate deferred annuity
an individual has a agreement as a way to provide him with a positive amount of earnings for
the relaxation of his lifestyles. But, this is not a lifestyles coverage policy. What sort of
agreement does this person have? - ANS-annuity
an character has just borrowed $10,000 on a 5-12 months note from his financial institution. The
note is due in installments. What type of life coverage policy might be satisfactory proper to this
example? - ANS-decreasing term
can a commercial enterprise or a corporation be an annuitant? - ANS-no, an annuitant must
usually be a natural character
throughout partial withdrawal from a popular lifestyles policy, what element, if any, can be
taxed? - ANS-interest earned at the withdrawn cash cost
how is the premium decided in a joint life coverage coverage? - ANS-the top class is based
totally at the average age of the insureds
how lengthy will a lifestyles annuity with a 15-12 months duration sure pay? - ANS-for the
existence of the annuitant except he/she dies within the first 15 years of the annuitization; then
the payments will final for 15 years
how quickly can earnings payments start in an instantaneous annuity? - ANS-no later than 1 12
months from the time of annuity bought
if an annuity offers a set amount of income for two or greater persons with the earnings ceasing
upon the primary demise, what type of annuity is that? - ANS-joint existence annuity
, if the annuitant dies earlier than the annuitization period begins, what's going to the beneficiary
get hold of? - ANS-either the quantity paid into the annuity or the cash price, whichever is
greater
if the annuitant dies at some stage in the buildup length, who will acquire the annuity benefits? -
ANS-beneficiary
if there is no named beneficiary for the annuity blessings, to which entity will the blessings be
paid? - ANS-anniutant's property
in a joint life coverage, whilst is the dying advantage paid? - ANS-upon the primary demise
in an annuity, the collected money is transformed right into a movement of profits during which
section? - ANS-annuitization period
in annually renewable time period policies, what is the annual premium based upon? - ANS-the
insured's attained age
in flexible premium payment annuities, the term flexible refers to what? - ANS-quantity of
premium
in variable widely wide-spread life coverage, to what policy aspect does the term "variable"
refer? - ANS-coins cost and loss of life advantage
in what type of lifestyles coverage policies can the policyowner pass premium payments with
out the coverage lapsing? - ANS-widely wide-spread existence
mortality tables are utilized by insurance agencies to predict what? - ANS-life expectancy and
the loss of life prices for specific corporations of people
regarding annuity payments, what's the difference among the annuitant and the beneficiary of
an annuity? - ANS-the annuitant receives bills from the annuity during the annuitization duration;
the beneficiary receives advantages after the annuitant's dying
the loss of life protection aspect of a widely wide-spread existence coverage is expressed as
what sort of insurance? - ANS-yearly renewable term
under a 20-pay complete lifestyles coverage, so as for the policy to pay the demise gain to a
beneficiary, the charges should be paid - ANS-
underneath a 20-pay entire life coverage, in order for the policy to pay the demise benefit to a
beneficiary, the charges ought to be paid for what term? - ANS-for twenty years or till the
insured's demise, whichever happens first
A coverage states that it will pay a specified face amount if the insured dies at some stage in the
20-year top rate-paying length and nothing if loss of life takes place after the 20-yr duration.
What sort of coverage is that this? - ANS-20-12 months degree term
a whole life coverage that calls for that the policyowner simplest will pay premiums for a
particular number of years is known as what form of policy? - ANS-restrained-pay whole
lifestyles
an annuity purchased with multiple bills that begin earnings bills after 365 days from the
moment of purchase is called what kind of annuity? - ANS-bendy top rate deferred annuity
an individual has a agreement as a way to provide him with a positive amount of earnings for
the relaxation of his lifestyles. But, this is not a lifestyles coverage policy. What sort of
agreement does this person have? - ANS-annuity
an character has just borrowed $10,000 on a 5-12 months note from his financial institution. The
note is due in installments. What type of life coverage policy might be satisfactory proper to this
example? - ANS-decreasing term
can a commercial enterprise or a corporation be an annuitant? - ANS-no, an annuitant must
usually be a natural character
throughout partial withdrawal from a popular lifestyles policy, what element, if any, can be
taxed? - ANS-interest earned at the withdrawn cash cost
how is the premium decided in a joint life coverage coverage? - ANS-the top class is based
totally at the average age of the insureds
how lengthy will a lifestyles annuity with a 15-12 months duration sure pay? - ANS-for the
existence of the annuitant except he/she dies within the first 15 years of the annuitization; then
the payments will final for 15 years
how quickly can earnings payments start in an instantaneous annuity? - ANS-no later than 1 12
months from the time of annuity bought
if an annuity offers a set amount of income for two or greater persons with the earnings ceasing
upon the primary demise, what type of annuity is that? - ANS-joint existence annuity
, if the annuitant dies earlier than the annuitization period begins, what's going to the beneficiary
get hold of? - ANS-either the quantity paid into the annuity or the cash price, whichever is
greater
if the annuitant dies at some stage in the buildup length, who will acquire the annuity benefits? -
ANS-beneficiary
if there is no named beneficiary for the annuity blessings, to which entity will the blessings be
paid? - ANS-anniutant's property
in a joint life coverage, whilst is the dying advantage paid? - ANS-upon the primary demise
in an annuity, the collected money is transformed right into a movement of profits during which
section? - ANS-annuitization period
in annually renewable time period policies, what is the annual premium based upon? - ANS-the
insured's attained age
in flexible premium payment annuities, the term flexible refers to what? - ANS-quantity of
premium
in variable widely wide-spread life coverage, to what policy aspect does the term "variable"
refer? - ANS-coins cost and loss of life advantage
in what type of lifestyles coverage policies can the policyowner pass premium payments with
out the coverage lapsing? - ANS-widely wide-spread existence
mortality tables are utilized by insurance agencies to predict what? - ANS-life expectancy and
the loss of life prices for specific corporations of people
regarding annuity payments, what's the difference among the annuitant and the beneficiary of
an annuity? - ANS-the annuitant receives bills from the annuity during the annuitization duration;
the beneficiary receives advantages after the annuitant's dying
the loss of life protection aspect of a widely wide-spread existence coverage is expressed as
what sort of insurance? - ANS-yearly renewable term
under a 20-pay complete lifestyles coverage, so as for the policy to pay the demise gain to a
beneficiary, the charges should be paid - ANS-
underneath a 20-pay entire life coverage, in order for the policy to pay the demise benefit to a
beneficiary, the charges ought to be paid for what term? - ANS-for twenty years or till the
insured's demise, whichever happens first
