12-GA-62l Georgial Variablel Productsl
Examl (Latestl 2026/l 2027l Update)l |l
Practicel 100%l Verifiedl Questionsl &l
Answersl |l Gradel A
Q:l Whatl isl thel gracel periodl forl fixedl premiuml policies?
Answer:
31l daysl followingl thel premiuml duel date.
Q:l Whatl isl thel gracel periodl forl flexiblel premiuml (universal)l variablel lifel policies?
Answer:
61l daysl froml thel datel thatl thel insurerl hasl notifiedl thel ownerl thatl thel accountl valuesl
arel insufficientl tol coverl thel cost.
Q:l Whatl happensl ifl thel premiuml isl notl paidl byl thel endl ofl thel gracel period?
Answer:
Coveragel willl lapse.
Q:l Whatl occursl ifl thel insuredl diesl duringl thel gracel periodl withoutl payingl thel
premium?
Answer:
Thel insurerl willl stilll payl thel deathl claiml lessl thel owedl premium.
,Q:l Whatl factorsl dol insurersl considerl whenl determiningl thel premiuml forl wholel lifel
andl fixedl premiuml variablel lifel policies?
Answer:
Insurersl considerl factorsl suchl asl thel agel ofl thel insured,l deathl benefit,l andl anyl optionall
riders.
Q:l Whatl mustl al policyownerl dol tol reinstatel al lifel insurancel policy?
Answer:
Thel policyownerl mustl bringl thel premiumsl up-to-datel andl provel insurability.
Q:l Whatl typel ofl premiuml doesl fixedl premiuml variablel lifel insurancel have?
Answer:
Fixedl premiuml variablel lifel insurancel hasl al fixedl andl levell premium.
Q:l Whatl isl flexiblel premiuml variablel lifel insurancel alsol knownl as?
Answer:
Flexiblel premiuml variablel lifel insurancel isl alsol referredl tol asl universall variablel lifel
(UVL).
Q:l Whatl arel thel keyl featuresl ofl flexiblel premiuml variablel lifel insurance?
Answer:
Itl offersl flexiblel premiuml paymentsl andl al guaranteedl minimuml deathl benefit.
Q:l Whatl isl thel deathl benefitl onl wholel lifel policies?
Answer:
Deathl benefitsl onl wholel lifel policiesl arel fixedl andl guaranteedl upl tol agel 100.
,Q:l Doesl thel deathl benefitl onl wholel lifel policiesl changel basedl onl accountl
performance?
Answer:
No,l thel deathl benefitl isl notl increasedl orl decreasedl byl thel performancel ofl anyl accountl
orl cashl value.
Q:l Whatl happensl tol thel deathl benefitl ifl therel isl anl outstandingl unpaidl loanl onl al
wholel lifel policy?
Answer:
Thel deathl benefitl mayl bel reducedl ifl there'sl anl outstandingl unpaidl loan.
Q:l Whatl isl guaranteedl aboutl thel deathl benefitsl onl fixedl premiuml variablel lifel
policies?
Answer:
Deathl benefitsl onl fixedl premiuml variablel lifel policiesl arel guaranteedl tol al minimum.
Q:l Howl canl thel deathl benefitl onl fixedl premiuml variablel lifel policiesl change?
Answer:
Thel deathl benefitl canl bel increasedl orl decreasedl basedl onl thel performancel ofl thel
investmentl optionsl chosenl byl thel policyholder.
Q:l Howl oftenl isl thel deathl benefitl valuedl forl fixedl premiuml variablel lifel policies?
Answer:
Thel deathl benefitl isl valuedl onl anl annuall basis.
, Q:l Whatl isl thel minimuml deathl benefitl forl flexiblel premiuml variablel lifel policies?
Answer:
Flexiblel premiuml variablel lifel policiesl havel al minimuml deathl benefit.
Q:l Canl thel deathl benefitl forl flexiblel premiuml variablel lifel policiesl increase?
Answer:
Yes,l thel deathl benefitl canl bel increasedl basedl onl thel performancel ofl thel investmentsl inl
thel separatel account.
Q:l Whatl isl thel cashl valuel ofl wholel lifel policies?
Answer:
Wholel lifel policiesl havel cashl valuesl thatl arel guaranteedl andl disclosedl inl thel policy.
Q:l Whenl mustl wholel lifel policiesl havel cashl value?
Answer:
Policiesl mustl havel cashl valuel afterl threel years.
Q:l Whatl happensl ifl al wholel lifel policyl isl surrendered?
Answer:
Thel policyl canl bel surrenderedl forl thel amountl ofl cashl value,l whichl wouldl endl thel
coverage.
Q:l Canl loansl bel takenl againstl thel cashl valuel ofl wholel lifel policies?
Answer:
Yes,l loansl mayl bel takenl againstl thel cashl value,l butl arel limitedl tol al percentagel ofl thel
amountl ofl cashl value.
Examl (Latestl 2026/l 2027l Update)l |l
Practicel 100%l Verifiedl Questionsl &l
Answersl |l Gradel A
Q:l Whatl isl thel gracel periodl forl fixedl premiuml policies?
Answer:
31l daysl followingl thel premiuml duel date.
Q:l Whatl isl thel gracel periodl forl flexiblel premiuml (universal)l variablel lifel policies?
Answer:
61l daysl froml thel datel thatl thel insurerl hasl notifiedl thel ownerl thatl thel accountl valuesl
arel insufficientl tol coverl thel cost.
Q:l Whatl happensl ifl thel premiuml isl notl paidl byl thel endl ofl thel gracel period?
Answer:
Coveragel willl lapse.
Q:l Whatl occursl ifl thel insuredl diesl duringl thel gracel periodl withoutl payingl thel
premium?
Answer:
Thel insurerl willl stilll payl thel deathl claiml lessl thel owedl premium.
,Q:l Whatl factorsl dol insurersl considerl whenl determiningl thel premiuml forl wholel lifel
andl fixedl premiuml variablel lifel policies?
Answer:
Insurersl considerl factorsl suchl asl thel agel ofl thel insured,l deathl benefit,l andl anyl optionall
riders.
Q:l Whatl mustl al policyownerl dol tol reinstatel al lifel insurancel policy?
Answer:
Thel policyownerl mustl bringl thel premiumsl up-to-datel andl provel insurability.
Q:l Whatl typel ofl premiuml doesl fixedl premiuml variablel lifel insurancel have?
Answer:
Fixedl premiuml variablel lifel insurancel hasl al fixedl andl levell premium.
Q:l Whatl isl flexiblel premiuml variablel lifel insurancel alsol knownl as?
Answer:
Flexiblel premiuml variablel lifel insurancel isl alsol referredl tol asl universall variablel lifel
(UVL).
Q:l Whatl arel thel keyl featuresl ofl flexiblel premiuml variablel lifel insurance?
Answer:
Itl offersl flexiblel premiuml paymentsl andl al guaranteedl minimuml deathl benefit.
Q:l Whatl isl thel deathl benefitl onl wholel lifel policies?
Answer:
Deathl benefitsl onl wholel lifel policiesl arel fixedl andl guaranteedl upl tol agel 100.
,Q:l Doesl thel deathl benefitl onl wholel lifel policiesl changel basedl onl accountl
performance?
Answer:
No,l thel deathl benefitl isl notl increasedl orl decreasedl byl thel performancel ofl anyl accountl
orl cashl value.
Q:l Whatl happensl tol thel deathl benefitl ifl therel isl anl outstandingl unpaidl loanl onl al
wholel lifel policy?
Answer:
Thel deathl benefitl mayl bel reducedl ifl there'sl anl outstandingl unpaidl loan.
Q:l Whatl isl guaranteedl aboutl thel deathl benefitsl onl fixedl premiuml variablel lifel
policies?
Answer:
Deathl benefitsl onl fixedl premiuml variablel lifel policiesl arel guaranteedl tol al minimum.
Q:l Howl canl thel deathl benefitl onl fixedl premiuml variablel lifel policiesl change?
Answer:
Thel deathl benefitl canl bel increasedl orl decreasedl basedl onl thel performancel ofl thel
investmentl optionsl chosenl byl thel policyholder.
Q:l Howl oftenl isl thel deathl benefitl valuedl forl fixedl premiuml variablel lifel policies?
Answer:
Thel deathl benefitl isl valuedl onl anl annuall basis.
, Q:l Whatl isl thel minimuml deathl benefitl forl flexiblel premiuml variablel lifel policies?
Answer:
Flexiblel premiuml variablel lifel policiesl havel al minimuml deathl benefit.
Q:l Canl thel deathl benefitl forl flexiblel premiuml variablel lifel policiesl increase?
Answer:
Yes,l thel deathl benefitl canl bel increasedl basedl onl thel performancel ofl thel investmentsl inl
thel separatel account.
Q:l Whatl isl thel cashl valuel ofl wholel lifel policies?
Answer:
Wholel lifel policiesl havel cashl valuesl thatl arel guaranteedl andl disclosedl inl thel policy.
Q:l Whenl mustl wholel lifel policiesl havel cashl value?
Answer:
Policiesl mustl havel cashl valuel afterl threel years.
Q:l Whatl happensl ifl al wholel lifel policyl isl surrendered?
Answer:
Thel policyl canl bel surrenderedl forl thel amountl ofl cashl value,l whichl wouldl endl thel
coverage.
Q:l Canl loansl bel takenl againstl thel cashl valuel ofl wholel lifel policies?
Answer:
Yes,l loansl mayl bel takenl againstl thel cashl value,l butl arel limitedl tol al percentagel ofl thel
amountl ofl cashl value.
