PearsonVue Life Insurance Practice Exam

PearsonVue Life Insurance Practice Exam The PRIMARY reason for selecting a Variable Whole Life policy instead of a traditional Whole Life policy is that the Variable Whole Life policy: - ANS-has the potential to earn a higher rate of return on the cash value Which of the following statements is CORRECT about the Paid-Up Additions in a participating Whole Life policy? - ANS-They are purchased on an attained age basis. Which of the following statements is CORRECT about Group Life conversion privileges? - ANS-Death during the conversion period is covered even if the departing employee chose not to convert the policy. If an insured commits suicide after the Suicide clause in the insured's life insurance policy has expired, the insurer will take which of the following actions? - ANS-Pay the Death benefit If a policy contains a Guaranteed Insurability rider, the insured has the right to purchase: - ANS- additional coverage at specified ages If life insurance policy applicant is classified as a substandard risk, the insurance company will MOST likely: - ANS-charge an extra premium P wants to name her husband as the beneficiary of her life policy. However, she wishes to retain all of the rights of ownership. P should have her husband named as the: - ANS-revocable beneficiary Which of the following features allows an insurance policy to remain in force for a specified number of days beyond the premium due date? - ANS-Grace Period provision In life insurance, insurable interest must exist at the time the: - ANS