Florida Life Insurance Test Questions With Correct Answers Already Passed!!

S buys $100,000 whole life policy in 2003 and pays an annual premium of $100. S dies five years later in 2008 and the insured pays the beneficiary $10,500. What kind of writer did S include on the policy? - A Return of permium rider All of these statements about the Waiver of Premium provision are correct EXCEPT - Insured must be eligible for Social Security disability for claim to be excepted Which of these provisions require proof of insurability after a policy has lapsed? - Reinstatement S would like to use dividends from her life insurance policy to purchase paid-up additions. All of these would be factors that determine how much coverage can be purchased EXCEPT -Beneficiary's age What action can a policyholder take if an application for a bank loan requires collateral? - Assign policy ownership to the bank How do life insurance companies handle cases where the insured commit suicide with in the contract's stated Contestable period? - Claims are denied under the Suicide clause of the policy P is blinded in an industrial accident. Which provision of his life insurance policy will pay a stated benefit amount? - Accidental Death and Dismemberment provision B owns a Whole Life policy with a guaranteed insurability option that allows him to purchase, without evidence of insurability, stated amounts of - Additional Whole Life coverage at specified times How are surrender charges deducted in a life policy with a rear-end loaded provision? - Deducted when the policy is discontinued What does the ownership clause in a life insurance policy state? - Who the policy owner is and what rights the policy owner is entitled toA life insurance policy which ensures that the premiums will be paid if the insured becomes disabled has what kind of rider attached? - Waiver of premium