South Carolina Insurance Exam Questions With 100% Correct Answers

Which of these riders will pay a death benefit if the insured's spouse dies? - ANSWER_Family term insurance rider Disability income plans which require that the insurer can NEVER change or alter premium rates are usually considered - ANSWER_Nonconcellable What is the required action to be taken by a South Carolina licensee before operating under an assumed business name? - ANSWER_Notify the Director The suicide clause of a life insurance policy states that if an insured commits suicide within a stated period from the policy's inception, the insurer will only be liable for a return of premiums paid - ANSWER_minus indebtedness and without interest If an annuitant dies before the annuity start date - ANSWER_the premiums paid plus interest will be given to the beneficiary The purpose of the Coordination of Benefits provision in group accident and health plans is to - ANSWER_avoid overpayment of claims The typical long-term care insurance policy is designed to provide a minimum of___year(s) of coverage - ANSWER_1 Decreasing term life insurance is often used to - ANSWER_provide coverage for a home mortgage Which type of life insurance policy pays the face amount at the end of the specified period if the insured is still alive? - ANSWER_Endowment policy A life insurance policy normally contains a provision that restricts coverage in the event of death under all of the following situations EXCEPT - ANSWER_fare-paying passenger All _____ policies must be guaranteed renewable. - ANSWER_long-term care What type of injury would NOT be covered under a health insurance policy? - ANSWER_Work related