Indiana Life and Health Insurance Study Exam
(xcelsolutions) 2024
20 Pay Life - ANS-J is 35-years old and looking to purchase a whole life insurance policy. Which
of the following types of policies will provide the most rapid growth of cash value?
-Life paid-up at age 70
-20 pay life
-increasing Term to age 65
-Straight Line
Conversion - ANS-Which Provision allows the policyowner to change a term life policy to a
permanent one without providing proof of good health?
-Modifcation
-Conversion
-Exchange
-Adjustable
Conversion Privilege - ANS-Which of the following features of a group Term Life policy enables
an individual to leave the group and continue his or her insurance without providing evidence of
insurability?
-Owner's Right clause
-incontestable period
-insuring agreement
-conversion privilege
Conversion Provision - ANS-When a policyowner exchanges a term policy for a whole life policy
without providing proof of good health, which of these apply?
-extended term option
-conversion provision
-1035 Exchange
-incontestable period
Costs of Insurance - ANS-The Universal Life pOlicy is called an unbundled Life Policy because
the policyholder can see the expense charges, the interest earned, and the:
-premium tax
-dividend rate
-values based on mutual funds or stocks
-costs of insurance
(xcelsolutions) 2024
20 Pay Life - ANS-J is 35-years old and looking to purchase a whole life insurance policy. Which
of the following types of policies will provide the most rapid growth of cash value?
-Life paid-up at age 70
-20 pay life
-increasing Term to age 65
-Straight Line
Conversion - ANS-Which Provision allows the policyowner to change a term life policy to a
permanent one without providing proof of good health?
-Modifcation
-Conversion
-Exchange
-Adjustable
Conversion Privilege - ANS-Which of the following features of a group Term Life policy enables
an individual to leave the group and continue his or her insurance without providing evidence of
insurability?
-Owner's Right clause
-incontestable period
-insuring agreement
-conversion privilege
Conversion Provision - ANS-When a policyowner exchanges a term policy for a whole life policy
without providing proof of good health, which of these apply?
-extended term option
-conversion provision
-1035 Exchange
-incontestable period
Costs of Insurance - ANS-The Universal Life pOlicy is called an unbundled Life Policy because
the policyholder can see the expense charges, the interest earned, and the:
-premium tax
-dividend rate
-values based on mutual funds or stocks
-costs of insurance
