215 State Exam Simulator (All Q's Composed)

A life insurance policy that provides a policyowner with cash value along with a level face amount is called Whole life T and S are named co-primary beneficiaries on a $500,000 Accidental Death and Dismemberment policy insuring their father. Their mother was named contingent beneficiary. Five years later, S dies of natural causes and the father is killed in a scuba accident shortly afterwards. How much of the death benefit will the mother receive? $0 The mother receives $0 because T is still alive and the sole primary beneficiary, while the mother is still the contingent beneficiary. A level premium indicates the premium is fixed for the entire duration of the contract Which premium schedule results in the lowest cost to the policyowner? Annual A policyowner is allowed to pay premiums more than once a year under which provision? Mode of Premium A life insurance application must be signed by all of these E