Kentucky Life Insurance State Exam Practice | 100 Questions with 100% Correct Answers

The premiums paid by an employer for his employee's group life insurance are usually considered to be - Tax-deductible to the employer Which of these is NOT considered to be a cost connected with an individual's death? - Business expenses These are all accurate statements regarding universal life insurance EXCEPT - Policy loans are not permitted Which of these is NOT relevant when determining the amount of personal life insurance needed? - Local unemployment rate Who elects the governing body of a mutual insurance company? - Policyholders Why would evidence of insurability be required for a person insured with a variable universal life policy? - The face amount is increased At what point are death proceeds paid in a joint life policy? - When the first insured dies What is considered a valid reason for small businesses to insure the lives of its major shareholders? - Fund a buy-sell agreement