Chapter 3 Primerica with
complete verified solutions
2025
What is the purpose of a fixed-period settlement option? - answer
To provide a guaranteed income for a certain amount of time
When the policyowner specifies a dollar amount in which
installments are to be paid, he/she has chosen which settlement
option? - answer Fixed amount
An insured and his wife are both involved in a head-on collision. The
husband dies instantly, and the wife dies 15 days later. The
company pays the death benefit to the estate of the insured. This
indicates that the life insurance policy had what provision? - answer
Common Disaster
What is the name of a clause that is included in a policy that limits
or eliminates the death benefit if the insured dies as a result of war
or while serving in the military? - answer War or military service
The accelerated benefits provision will provide for an early payment
of the death benefit when the insured - answer Becomes terminally
ill.
If a settlement option is not chosen by the policyowner or the
beneficiary, which option will be used? - answer Lup Sum
Nonforfeiture values guarantee which of the following for the
policyowner? - answer That the cash value will not be lost
complete verified solutions
2025
What is the purpose of a fixed-period settlement option? - answer
To provide a guaranteed income for a certain amount of time
When the policyowner specifies a dollar amount in which
installments are to be paid, he/she has chosen which settlement
option? - answer Fixed amount
An insured and his wife are both involved in a head-on collision. The
husband dies instantly, and the wife dies 15 days later. The
company pays the death benefit to the estate of the insured. This
indicates that the life insurance policy had what provision? - answer
Common Disaster
What is the name of a clause that is included in a policy that limits
or eliminates the death benefit if the insured dies as a result of war
or while serving in the military? - answer War or military service
The accelerated benefits provision will provide for an early payment
of the death benefit when the insured - answer Becomes terminally
ill.
If a settlement option is not chosen by the policyowner or the
beneficiary, which option will be used? - answer Lup Sum
Nonforfeiture values guarantee which of the following for the
policyowner? - answer That the cash value will not be lost
