INDIANA LIFE AND HEALTH INSURANCE EXAM 2025 WITH 850+ REAL EXAM PRACTICE QUESTIONS AND CORRECT VERIFIED ANSWERS INDIANA LIFE & HEALTH INSURANCE TEST 2025 (NEW!)

Indiana Life Insurance Exam
g g g




-gANS-UndergthegUnfairgCompetitiongStatute

a. Financialginstitutionsgmaygrequireginsurancegongtheglivesgofgdebtors.
b. Premiumsgmaygnotgbegbasedgupongthegagegorggendergofgangapplicant.
c. Participatinggpoliciesgmustgguaranteegdividends.
d. Rebatesgmaygbegpaidgtogconsumers,gifgitgisging"thegpublicginterest."

.gItgisgthegsamegasgagModifiedgLifegPolicyg-gANS-
WhichgofgthegfollowinggstatementsgisgNOTgtruegaboutgEnhancedgOrdinarygLife?

a. ItgisgthegsamegasgagModifiedgLifegpolicy.
b. ItgisgagcombinationgofgcontinuousgpremiumgWholegLifegandgRenewablegTerm.
c. PolicygdividendsgaregusedgtogpurchasegPaidgUpgAdditions.
d. ItgisgonlygavailablegongParticipatinggLifeginsurancegpolicies.

$25,000g-gANS-IfgthegCommissionergissuesgagcease-and-
desistgordergandgyougcontinuegthegsamegactivities,gyougcangbegfinedgupgtogwhichgofgthegfollowin
ggamountsgpergviolationgofgthatgorder?

a. $5,000
b. $1,000
c. $50,000
d. $25,000

1. AgSinglegPremium
2. LimitedgPayg(Forgaglimitedgperiodgofgtime)
3. StraightgLifeg(Continuous)gPremium

Thegshortergthegpaymentgperiod,gtheghighergeachgindividualgpaymentgbutgtheglowergthegtotalgco
st.gTheglongergthegpaymentgperiod,gthegsmallergthegindividualgpremiums,gbutgtheggreatergthegtot
algcost.gNogmatterghowgit'sgpaidgfor,gthegcashgvaluegwillgequalgthegfacegamountgatgageg100.g-
ANS-Howgcangyougbuygagwholeglifeginsurancegpolicy?

1. Offer:gAgconcisegstatementgthatgisgansweredgbygYesgorgNo.gInglifeginsurance,gangapplication
gisgonlygangoffergifgitgcomesgwithgthegfirstgpremium.

2. Acceptance:gMirrorgimagegofgthegoffer.gThegcompanygmustgissuegandgdelivergthegpolicygbygt
hegagent.
3. Consideration:gThegexchangegofgsomethinggofgvalue.gCompanygoffersgpromisesgandgapplica
ntggivesgpremium.
4. Capacity:gAbilitygtogentergintogthegcontract

,5. Purpose:gReasongforgexistence.gInglife,gthegapplicantgmustghaveginsurableginterestgandgconse
ntgingtheglifegofgthegproposedginsured.g-gANS-Whatgaregthegfivegelementsgofgagcontract?

1. TakegthegMoney
2. BuygangAnnuitygCertaing(Agguaranteedgincomegforgagspecificgperiodgofgtime)
3. AgLifegAnnuityg(Guaranteedgincomegforglife)g-gANS-
Whatgthreegchoicesgdoesgangannuitantghavegwhengthegannuitygreachesgannuitization?

1. Terminallygill
2. ExtraordinarygMedicalgInterventiong(organgtransplant,gartificialglifegsupport,getc.)
3. PermanentlygInstitutionalized
4. LimitsgthegInsured'sglifegspang(Heartgdisease,gcancer,grenalgfailure)
5. AnygothergconditiongapprovedgbygthegCommissionerg-gANS-
IngordergtogqualifygforgAcceleratedgDeathgBenefits,gtheginsuredgmustgbegingwhatgkindgofgcircu
mstance?

1. ValuedgContracts:gTheyghavegagpre-
determined,gfacegamount.gWhengJoegdies,ghisgfamilygwillgreceivegthegdeathgbenefitgplacedgon
gthegcontract.



2. Reimbursement/indemnitygcontracts:gExistgtogmakegyougwhole.gBringsgyougbackgtogwheregy
ougweregbeforegsomethinggbadghappenedgtogyou.

3. Servicegcontracts:gThegcarrier/companygprovidesgthegservice.g-gANS-
Whatgaregthegdifferentgtypesgofginsurancegcontracts?

20%gofgtotalgearnedgincome

Maximumgannualgcontributionsgareglimitedgtogtheglessergofg$30,000gorg20gpercentgofgtotalgearne
dgincomeg(25%gofgthegafter-contributiongincome).g-gANS-
AgKeoghgplangwouldgallowgangannualgcontributiongofgupgto

a. 20gpercentgofgtotalgearnedgincome.
b. 10gpercentgofgtotalgearnedgincome.
c. 15gpercentgofgtotalgearnedgincome.
d. 30gpercentgofgtotalgearnedgincome.

24gHoursgofgContinuinggEducationg-gANS-
AgfullglinesgProducergrenewinggagtwogyearglicensegmustghave

a. 24gHoursgofgContinuinggeducation
b. 10gHoursgofgContinuinggeducation.
c. 15gHoursgofgContinuinggeducation.
d. 30gHoursgofgContinuinggeducatio

ng31gDays:gNormalgConversiongPeri

od

,15gDays:gExtension
60gDays:gMaximumgConversiongPeriodg-gANS-
ExplaingthegconversiongsummarygforgthegStategofgIndianagforgGroupginsurancegpolicies

AgDeathgBenefit

Annuitiesgaregallgaboutgthegaccumulationgofgcash,gnotgdeathgbenefits,gandgthegmoneygdoesggro
wgongagtaxgdeferredgbasis.gAndgit'sgRandygthatgdoesn'tghavegagclue.g-gANS-
Annuitiesgdon'tghave

a. Cashgvalue.
b. Taxgdeferredggrowth.
c. Agdeathgbenefit.
d. Agclue.

Aglifeginsurancegpolicygwhosegfacegamountgjumpsgfivegtimesgwhengtheginsuredgreachesgagcertai
ngage,gsuchgasg21.g-gANS-JumpinggJuvenilegis

a. Aghyperactivegcondition.
b. AgLifeginsurancegpolicygdesignedgforgadolescentsgwhogparticipategingtrackgandgfieldgevents.
c. AgLifeginsurancegpolicygwhosegfacegamountgjumpsgfivegtimesgwhengtheginsuredgreaches
gagcertaingage,gsuchgasgageg21.

d. AgLifeginsurancegpolicygwhosegpremiumgjumpsgfivegtimesgwhengtheginsuredgreachesgagcert
aingage,gsuchgasgageg21.

AgModifiedgEndowmentgContractg-gANS-
AglifeginsurancegpolicygthatghasgcashgvaluegwhichggrowsgfastergthangthegcashgvaluegofgagSeven
gPaygWholegLifegpolicygisgknowngas



a. AngEndowmentgpolicy.
b. ModifiedgLifegpolicy.
c. AgModifiedgEndowmentgContract.
d. AgModifiedgSuperstockgPro.

Agpersongsellingglimitedghealthgpoliciesg(suchgasgcancerginsurance)gtogchurchgmembersg-gANS-
AllgofgthegfollowinggmaygobtaingaglimitedginsurancegProducer'sglicensegEXCEPT

a. Agpersongsellingglimitedghealthgpoliciesg(suchgasgcancerginsurance)gtogchurchgmembers.
b. Agpersongsellinggtravelgaccidentginsurancegingagtransportationgterminal.
c. Agpersongsellinggtitleginsurancegtogthegpurchasergofgrealgestate.
d. Agpersongsellinggbaggageginsurancegingagtransportationgterminal

Agproducergchangesgtheirgtelephonegnumberg-gANS-
ThegCommissionergmustgbegnotifiedgingallgofgthegfollowinggcircumstancesgEXCEPT:

a. AgProducergchangesgtheirgtelephonegnumber.

, b. AgProducergisgdischargedgforgcausegbyganginsurancegcompany.
c. AgProducergchangesgtheirgbusinessgaddress
d. AgProducergchangesgtheirgresidentialgaddress.

agsinglegcontractgthatgcoversgagnumbergofglives.gThegdebtorgisgtheginsuredgandgthegcreditorgisgth
egowner/beneficiary.gIfgyougleavegtheggroup,gyougaregnoglongergeligiblegtoghavegtheginsurance.g
Youghaveg31gdaysgtogconvertgtogangindividualgpolicygtogmaintaingtheginsurance.gThegpremiumg
willgbegbasedgupongthegattainedgagegatgtimegofgthegconversion.gDeathgduringgthegconversiongp
eriodgwillgresultgingthegsamegwaygasgdeathgwhilegagmembergofgtheggroup.g-gANS-
Whatgisggroupglifeginsurance?

Agsinglegcontractgthatgcoversgeverybodygingthegfamily.gYougreceivegagwholeglifegpolicygongthegb
readwinnergandgconvertiblegtermgongthegrest.gThegbasicgtermgisglifegofgthegbreadwinner.gAftergth
egdeathgofgthegbreadwinner,gthegfamilygcangconvertgtogindividualgpolicies.gNewgborngchildrengar
egautomaticallygcoveredgwithgnogproofgofginsurabilitygandgnogincreasegingpremium.g-gANS-
Whatgisgagfamilyglifeginsurancegpolicy?

AgWholegLifegpolicygwithgcashgvalueg-gANS-
Whichgofgthegfollowingglifegpoliciesgwouldgprovidegreinstatementgrights?

a. DecreasinggTerm
b. AgWholegLifegpolicygwithgcashgvalue
c. RenewablegTerm
d. AllgTermgpolicies

A.g$200,000glessganygoutstandinggloansg-gANS-
Ingthegyearg2000,gHamletgpurchasedgag$200,000gfacegamountgAdjustablegLifegpolicygcontainin
ggagconventionalgSuicidegclause.gIfgHamletgcommitsgsuicidegingthegyearg2008,ghisgcompanygwi
llgpaygwhichgofgthegfollowing?

a. $200,000glessganygoutstandinggloans
b. Thegpremiumgpaidglessganygoutstandinggloans
c. $200,000gplusgthegcashgvaluegatgHamlet'sgdeathgminusganygoutstandinggloans
d. Thegcashgvalueglessganygoutstandinggloans

A. $96,000g-gANS-
Joelgownsgag$100,000gfacegamountgWholegLifegpolicygwhichghasgagcashgvaluegofg$11,000.gTh
eregisgalsogangoutstandinggloangofg$4,000.gIfgJoelgdies,ghowgmuchgwouldgtheginsurancegcomp
anygpaygtoghisgbeneficiary?

a. $96,000
b. $100,000
c. $111,000
d. $107,000