Oregon Life Insurance Exam Simulation: Difficult Questions with 100% Correct Answers | Verified | Latest Update 2024 | 59 Pages

Under a straight life annuity, if the annuitant dies before the principal amount is paid out, the beneficiary will receive a)The remainder of the principal. b)Nothing; the payments will cease. c)Guaranteed minimum benefit. d)The amount paid into the annuity. - b Which of the following is usually true of a participating life insurance policy? a)It pays dividends to policyowners. b)It may be converted to a term life policy. c)It pays dividends to stockholders. d)It assesses premiums against stockholders. - a What is the best way to change an application? a)Erase the previous answer and replace it with the new answer b)White-out the previous answer c)Draw a line through the incorrect answer and insert the correct one. d)Start over with a fresh application - d An insured is upset that her new health insurance policy was delivered to her by certified mail and not through her agent. Which of the following is true?a)There is nothing wrong with this form of policy delivery. b)The insured should complain to the insurer. c)The insured should ask for a new policy to be delivered. d)The policy will not be legal until it is delivered by an agent.