PSI Basic Life Insurance Practice Test Guide Questions with Complete Solutions

PSI Basic Life Insurance Practice Test Guide Questions with Complete Solutions It provides twice the face value in the policy for death due to accident. - Answer- Why is the accidental death benefit referred to as double indemnity? the treatment procedures that are covered by the policy. - Answer- If the insurer wishes to share an applicant's HIV status, the applicant must be given full notice of all of the following EXCEPT: common disaster clause - Answer- An insured and the beneficiary are both killed in a fatal accident. Which provision presumes the insured survived the beneficiary? Participating policies pay dividends while non-participating policies do not. - Answer- Which is the difference between participating and non-participating policies? switching the policy from one insured to another - Answer- All of the following are ownership rights EXCEPT Multiple indemnity - Answer- What is it called when a life insurance policy pays a multiple of the coverage amount when certain types of accidents occur? succession of beneficiaries - Answer- What is the order in which beneficiaries receive proceeds from a life insurance policy?