Life-Only Agent Exam 1 to 4 Questions and Answers Already Passed

AN example of a moral hazard in relation to a life insurance application would be: - Misstating your health history to an insurance company. John applies for a variable annuity and does not request that the premiums be immediately invested in a stock or bond portfolio. After the annuity is issued, John returns the annuity contract to the insurer within the free look period. What will John receive from the insurer? - The entire premium In life insurance policies, naming beneficiaries is an important part of the application process. Choose from below the best description of a contingent beneficiary. - One with the first right to receive proceeds if there is no surviving primary beneficiary and the insured dies. Of the following, which best describes an annuity? - It has an obligation that is different to the insurance company for both the accumulation period and the liquidation period.