Primerica Life Insurance Exam Study Guide with complete solutions | Latest 2025/2026 Update.

Primerica Life Insurance Exam Study Guide with i,- i,- i,- i,- i,- i,- i,-




complete solutions | Latest 2025/2026 Update. i,- i,- i,- i,- i,-




Agent/Producer i,-i,- i,- Anyone who sells or aids in the selling of
i,- i,- i,- i,- i,- i,- i,- i,- i,-




insurance. Legally represents the company. i,- i,- i,- i,-




Cash Settlement Option
i,- i,- i,-i,- i,- Upon maturity of an insurance policy
i,- i,- i,- i,- i,- i,-



thei,-




beneficiary receives a lump-sum payment of the i,- i,- i,- i,- i,- i,- i,-




entire policy proceeds due.
i,- i,- i,-




Agent's Report i,- i,-i,- i,- A written report from the agent submitted to
i,- i,- i,- i,- i,- i,- i,- i,-



thei,-




insurer along with the application disclosing what
i,- i,- i,- i,- i,- i,- i,-




the agent knows, observed, or learned about the
i,- i,- i,- i,- i,- i,- i,- i,-




proposed insured's risks. i,- i,-




Aleatory i,-i,- i,- Unequal exchange of value. One party may i,- i,- i,- i,- i,- i,- i,-




obtain a far greater value than the other under
i,- i,- i,- i,- i,- i,- i,- i,- i,-




the contract.
i,-

,Annual Renewable Term i,- i,- i,-i,- i,- A Term Life Insurance contract which
i,- i,- i,- i,- i,- i,-



gives the i,- i,-




policyowner the option to renew the policy each i,- i,- i,- i,- i,- i,- i,- i,-




year without showing proof of insurability.
i,- i,- i,- i,- i,- i,-




Premiums increase at each renewal. i,- i,- i,- i,-




Annuitant i,-i,- i,- The person that buys an annuity; may or may not
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-




be an annuity's policyowner.
i,- i,- i,-




Annuity i,-i,- i,- A contract/policy that guarantees to pay income
i,- i,- i,- i,- i,- i,- i,-




for a specified period of time or for the life of the
i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,- i,-




annuitant. Designed to prevent people from i,- i,- i,- i,- i,- i,-




outliving their savings. i,- i,-




Appointment i,-i,- i,- Authorization of an agent/producer by an i,- i,- i,- i,- i,- i,-



insurer i,-




to represent the company.
i,- i,- i,-




401 k plan i,- i,- i,-i,- i,- A qualified retirement plan in which the
i,- i,- i,- i,- i,- i,- i,-




employee can set aside a portion of their income i,- i,- i,- i,- i,- i,- i,- i,- i,-




with pre-tax dollars.
i,- i,-

, Absolute Assignment v. Collateral
i,- i,- i,- i,-




Assignment i,-i,- i,- Absolute: A permanent and irrevocable transfer i,- i,- i,- i,- i,- i,-




of rights and/or benefits by the policyowner.
i,- i,- i,- i,- i,- i,- i,-




Collateral: A temporary and/or revocable transfer
i,- i,- i,- i,- i,- i,-




of benefits by the policyowner.
i,- i,- i,- i,-




Accelerated Death Benefit i,- i,- i,-i,- i,- Policy provision that allows full or
i,- i,- i,- i,- i,- i,-



partial i,-




payment of the policy's death benefit before the
i,- i,- i,- i,- i,- i,- i,- i,-




insured's death if he/she is terminally ill.
i,- i,- i,- i,- i,- i,-




Accidental Death Benefit i,- i,- i,-i,- i,- An extra cost rider that requires the
i,- i,- i,- i,- i,- i,- i,-



insurance i,-




company to pay an additional benefit in the event
i,- i,- i,- i,- i,- i,- i,- i,- i,-




that the insured dies within 90 days of an
i,- i,- i,- i,- i,- i,- i,- i,- i,-




accident as a direct result of the accident.
i,- i,- i,- i,- i,- i,- i,-




Accumulate at Interest i,- i,- i,-i,- i,- The Dividend Option where the
i,- i,- i,- i,- i,-



policyowner i,-




leaves the dividends with the insurer to invest
i,- i,- i,- i,- i,- i,- i,- i,-




and earn interest.
i,- i,-