NYS Life Insurance chapter 2 Questions
and Answers.
estate - Answer purchase of life insurance creates an immediate_____.
60 - Answer qualifies for retirement benefits as early as age____.
buy- sell - Answer a _____ agreement is a legal contract that determines what will be done
with a business in the event that the owner dies or becomes siabled.
business continuation plan - Answer this plan is an arrangement between business owners
that provides for shares owned by any one of them who dies or becomes disabled to be sold
and purchased by the other co- workers or the business
insurable interest - Answer a financial interest in the life of another person. in a position to
lose something of value in the insured should die.
insurer - Answer the ____ whose policies are advertised is responsible for all its
advertisements.
full name, name of the city - Answer every agent of any insurer and every insurance broker
must state the _______ refered to and the _______ in which it has its principal office.
buyers guide - Answer a _____ provides basic information about life insurance policies
buyers guide - Answer the ______ must be provided priuor to or at the time of application.
replacement - Answer is a practice of terminating an existing policy or letting it lapse, be
surrendered, or reduce in value, and obtaining a new one.
underwriting - Answer is the process by which an insurer evaluates, classifies, and ultimately
either accepts or rejects applicants.
MIB ( medical information bureau) - Answer the ______ can be used only as a an aid in
helpign insurers know what areas of impairment they may need to investigate further
morality - Answer rate of death
and Answers.
estate - Answer purchase of life insurance creates an immediate_____.
60 - Answer qualifies for retirement benefits as early as age____.
buy- sell - Answer a _____ agreement is a legal contract that determines what will be done
with a business in the event that the owner dies or becomes siabled.
business continuation plan - Answer this plan is an arrangement between business owners
that provides for shares owned by any one of them who dies or becomes disabled to be sold
and purchased by the other co- workers or the business
insurable interest - Answer a financial interest in the life of another person. in a position to
lose something of value in the insured should die.
insurer - Answer the ____ whose policies are advertised is responsible for all its
advertisements.
full name, name of the city - Answer every agent of any insurer and every insurance broker
must state the _______ refered to and the _______ in which it has its principal office.
buyers guide - Answer a _____ provides basic information about life insurance policies
buyers guide - Answer the ______ must be provided priuor to or at the time of application.
replacement - Answer is a practice of terminating an existing policy or letting it lapse, be
surrendered, or reduce in value, and obtaining a new one.
underwriting - Answer is the process by which an insurer evaluates, classifies, and ultimately
either accepts or rejects applicants.
MIB ( medical information bureau) - Answer the ______ can be used only as a an aid in
helpign insurers know what areas of impairment they may need to investigate further
morality - Answer rate of death
