Life Insurance And Annuities Questions With Correct
Answers.
Underwriting - accurate answers-Process of assessing risk and determining
insurability
Application - accurate answers-Document containing statements from the
insured
Annuity - accurate answers-Financial product providing income for life
Immediate annuity - accurate answers-Annuity that starts paying immediately
Universal life insurance - accurate answers-Policy that requires written notice
of termination
Group life insurance - accurate answers-Policy where benefits can be assigned
by the insured
Accidental Death and Dismemberment clause - accurate answers-Life
insurance provision for specific injuries
Payor Benefit rider - accurate answers-Rider on a juvenile life insurance
policy
Surrender charges - accurate answers-Charges deducted when discontinuing
a life policy
Continuing education units - accurate answers-Credits for professional
development in insurance
Convertible term life policy - accurate answers-Policy that can be changed to
whole life insurance
Face amount - accurate answers-Sum paid upon death or policy maturity
Conversion - accurate answers-Group term life feature allowing coverage after
leaving the group
, Common Disaster clause - accurate answers-Clause providing payment to
insured's estate in a common accident
Resident producer license - accurate answers-License obtained by paying a
fee in Missouri
Age understatement - accurate answers-Insurer pays the premium amount for
the correct age
Insuring clause - accurate answers-Promise by insurer to pay stated benefits
Irrevocable beneficiary designation - accurate answers-Change of beneficiary
requires permission from the beneficiary
Misrepresentation - accurate answers-Unfair comparison of two insurance
policies
Life insurance and annuity replacement - accurate answers-Exchanging an
existing policy for a new one
Suitability information - accurate answers-Information needed to recommend
an annuity purchase
Variable life - accurate answers-Life insurance policy with separate
investment account
Unilateral contract - accurate answers-Insurance contract with only one
legally enforceable promise
Dismemberment - accurate answers-Type of benefit not provided by Social
Security
20-Pay Life - accurate answers-Policy that accumulates cash value faster in
early years
Warrant for arrest - accurate answers-Document not issued after insurance
code violation
Answers.
Underwriting - accurate answers-Process of assessing risk and determining
insurability
Application - accurate answers-Document containing statements from the
insured
Annuity - accurate answers-Financial product providing income for life
Immediate annuity - accurate answers-Annuity that starts paying immediately
Universal life insurance - accurate answers-Policy that requires written notice
of termination
Group life insurance - accurate answers-Policy where benefits can be assigned
by the insured
Accidental Death and Dismemberment clause - accurate answers-Life
insurance provision for specific injuries
Payor Benefit rider - accurate answers-Rider on a juvenile life insurance
policy
Surrender charges - accurate answers-Charges deducted when discontinuing
a life policy
Continuing education units - accurate answers-Credits for professional
development in insurance
Convertible term life policy - accurate answers-Policy that can be changed to
whole life insurance
Face amount - accurate answers-Sum paid upon death or policy maturity
Conversion - accurate answers-Group term life feature allowing coverage after
leaving the group
, Common Disaster clause - accurate answers-Clause providing payment to
insured's estate in a common accident
Resident producer license - accurate answers-License obtained by paying a
fee in Missouri
Age understatement - accurate answers-Insurer pays the premium amount for
the correct age
Insuring clause - accurate answers-Promise by insurer to pay stated benefits
Irrevocable beneficiary designation - accurate answers-Change of beneficiary
requires permission from the beneficiary
Misrepresentation - accurate answers-Unfair comparison of two insurance
policies
Life insurance and annuity replacement - accurate answers-Exchanging an
existing policy for a new one
Suitability information - accurate answers-Information needed to recommend
an annuity purchase
Variable life - accurate answers-Life insurance policy with separate
investment account
Unilateral contract - accurate answers-Insurance contract with only one
legally enforceable promise
Dismemberment - accurate answers-Type of benefit not provided by Social
Security
20-Pay Life - accurate answers-Policy that accumulates cash value faster in
early years
Warrant for arrest - accurate answers-Document not issued after insurance
code violation
