12-GA-62l Georgial Variablel Productsl
Examl (Latestl 2026/l 2027l Update)l Guide|l
100%l Verifiedl Questionsl &l Answersl |l
Gradel A
Q:l Incidentall Insurancel Benefitl Provision
Answer:
Al paymentl receivedl froml al variablel lifel insurancel policy,l otherl thanl thel variablel deathl
benefitl andl thel minimuml deathl benefit,l andl includingl butl notl limitedl tol anyl accidentall
deathl andl dismembermentl benefit,l disabilityl incomel benefit,l guaranteedl insurabilityl
option,l familyl incomel benefit,l orl fixed-benefitl terml rider.
Q:l Automaticl Premiuml Loanl Provision
Answer:
anl overduel premiuml isl automaticallyl borrowedl froml thel cashl valuel afterl thel gracel
periodl expires
-foundl onlyl inl FIXEDl PREMIUMl products
-seenl asl al "loan"l againstl thel policyl andl incursl interestl andl reducesl bothl thel facel
amountl andl cashl valuel untill repaid
Q:l Dividendl onl participatingl policiesl provision
Answer:
isl thel partiall return,l byl al mutuall insurer,l ofl al deliberatel premiuml overcharge
-akal al rebatel
-al mutuall insurerl canl bel authorizedl tol createl andl selll variablel products,l inl whichl casel
youl wouldl havel "participating"l variablel policies
,Q:l Deferrall Provision
Answer:
thisl provision,l whichl appliesl tol alll lifel insurancel policies,l authorizesl insurersl tol delayl
voluntaryl distributionsl ofl cashl valuesl andl variablel deathl benefitsl forl upl tol 6l months
-doesl NOTl applyl tol fixedl (guaranteed)l deathl benefits,l sol thesel fixedl deathl benefitsl
mustl bel paidl "immediately",l whichl inl mostl statesl meansl 60l daysl afterl satisfactoryl
noticel ofl deathl
-REQUIRED:l mustl bel disclosel deferrall provisionl tol thel purchaserl atl thel timel ofl
application
Q:l SECl (Securitiesl andl Exchangel Commission)
Answer:
Thel separatel accountl isl regulatedl byl the
Q:l Statel Insurancel Departments
Answer:
Variablel lifel contractsl andl variablel annuityl contractsl arel lifel insurancel contractsl andl
thereforel regulatedl byl the
Q:l Wholel Lifel Policyl Deathl Benefit
Answer:
usuallyl describedl asl "fixedl andl level"l tol thel datel ofl deathl orl tol agel 100,l sol longl asl
thel requiredl premiumsl arel paidl andl thel policyl remainsl inl forcel
**negativel connotationl ofl fixed/l levell DBl isl thatl isl doesl notl keepl upl withl inflationl
(purchasingl powerl risk)
Q:l Fixedl premiuml variablel lifel deathl benefit
,Answer:
-hasl twol deathl benefitsl thatl arel combinedl whenl paidl atl death:
1.l Guaranteedl Minimuml Deathl Benefit:l fixedl andl levell tol thel datel ofl deathl orl agel
100,l sol longl asl thel fixedl andl requiredl premiumsl ofl thel variablel policyl arel paid
2.Variablel Deathl Benefit:l isl createdl byl al portionl ofl thel netl investmentl resultsl ofl thel
separatel accountl portfoliosl selectedl byl thel policyowner
Q:l Guaranteedl Minimuml Deathl Benefit
Answer:
fixedl andl levell tol thel datel ofl deathl orl agel 100,l sol longl asl thel fixedl andl requiredl
premiumsl ofl thel variablel policyl arel paid
Q:l Variablel Deathl Benefit
Answer:
Thel amountl paidl tol al decedent'sl beneficiaryl thatl dependsl onl thel investmentl
performancel ofl anl insurancel company'sl separatel account.l Thel amountl isl addedl tol anyl
guaranteedl minimuml deathl benefit.
-goesl upl andl downl daily,l justl asl thel separatel accountl valuesl do,l andl therel isl NOl
guaranteel asl tol whatl itl willl bel atl anyl pointl inl thel future
Q:l True
Answer:
Tl orl F:l Evenl ifl thel variablel deathl benefitl goesl tol ZERO,l thel guaranteedl minimuml
deathl benefitl willl bel unaffectedl byl thisl negativel marketl performancel andl willl continuel
unchangedl sol longl asl thel fixedl andl requiredl premiumsl ofl thel variablel lifel policyl arel
paid
Q:l Variablel Cashl Value
, Answer:
isl createdl byl al portionl ofl thel netl investmentl resultsl ofl thel separatel accountl portfoliosl
selectedl byl thel policyownersl
-goesl upl andl downl daily,l justl asl thel separatel accountl valuesl do,l andl therel isl nol
guaranteel asl tol whatl itl willl bel atl anyl pointl inl thel future
-NOl guaranteedl minimuml cashl value
Q:l Freel Lookl Period
Answer:
Anl amountl ofl timel providedl tol anl insuredl inl orderl tol examinel thel insurancel policy
-10l daysl forl alll lifel insurancel policiesl froml datel ofl policyl deliveryl tol thel owner
-45l daysl forl variablel lifel policiesl thatl allowl 45l froml beginningl ofl applicationl orl
purchasel date
Q:l Reinstatementl Provision
Answer:
permitsl thel insuredl tol reinstatel al lapsedl cashl valuel lifel insurancel policyl (wholel life)
-thel requestl tol reinstatel mustl bel submittedl tol thel insurerl withinl 3l yearsl froml thel datel
ofl lapse
-al newl applicationl andl anyl requiredl proofsl ofl insurabilityl mustl bel submitted
-alll backl premiumsl mustl bel paid
-interestl onl thel backl premiumsl mustl bel paid
-anyl outstandingl loansl againstl thel policyl mustl bel repaid
Q:l 6%
Answer:
Thel maximuml annuall interestl anl insurerl mayl chargel onl backl premiumsl isl ______l %
Examl (Latestl 2026/l 2027l Update)l Guide|l
100%l Verifiedl Questionsl &l Answersl |l
Gradel A
Q:l Incidentall Insurancel Benefitl Provision
Answer:
Al paymentl receivedl froml al variablel lifel insurancel policy,l otherl thanl thel variablel deathl
benefitl andl thel minimuml deathl benefit,l andl includingl butl notl limitedl tol anyl accidentall
deathl andl dismembermentl benefit,l disabilityl incomel benefit,l guaranteedl insurabilityl
option,l familyl incomel benefit,l orl fixed-benefitl terml rider.
Q:l Automaticl Premiuml Loanl Provision
Answer:
anl overduel premiuml isl automaticallyl borrowedl froml thel cashl valuel afterl thel gracel
periodl expires
-foundl onlyl inl FIXEDl PREMIUMl products
-seenl asl al "loan"l againstl thel policyl andl incursl interestl andl reducesl bothl thel facel
amountl andl cashl valuel untill repaid
Q:l Dividendl onl participatingl policiesl provision
Answer:
isl thel partiall return,l byl al mutuall insurer,l ofl al deliberatel premiuml overcharge
-akal al rebatel
-al mutuall insurerl canl bel authorizedl tol createl andl selll variablel products,l inl whichl casel
youl wouldl havel "participating"l variablel policies
,Q:l Deferrall Provision
Answer:
thisl provision,l whichl appliesl tol alll lifel insurancel policies,l authorizesl insurersl tol delayl
voluntaryl distributionsl ofl cashl valuesl andl variablel deathl benefitsl forl upl tol 6l months
-doesl NOTl applyl tol fixedl (guaranteed)l deathl benefits,l sol thesel fixedl deathl benefitsl
mustl bel paidl "immediately",l whichl inl mostl statesl meansl 60l daysl afterl satisfactoryl
noticel ofl deathl
-REQUIRED:l mustl bel disclosel deferrall provisionl tol thel purchaserl atl thel timel ofl
application
Q:l SECl (Securitiesl andl Exchangel Commission)
Answer:
Thel separatel accountl isl regulatedl byl the
Q:l Statel Insurancel Departments
Answer:
Variablel lifel contractsl andl variablel annuityl contractsl arel lifel insurancel contractsl andl
thereforel regulatedl byl the
Q:l Wholel Lifel Policyl Deathl Benefit
Answer:
usuallyl describedl asl "fixedl andl level"l tol thel datel ofl deathl orl tol agel 100,l sol longl asl
thel requiredl premiumsl arel paidl andl thel policyl remainsl inl forcel
**negativel connotationl ofl fixed/l levell DBl isl thatl isl doesl notl keepl upl withl inflationl
(purchasingl powerl risk)
Q:l Fixedl premiuml variablel lifel deathl benefit
,Answer:
-hasl twol deathl benefitsl thatl arel combinedl whenl paidl atl death:
1.l Guaranteedl Minimuml Deathl Benefit:l fixedl andl levell tol thel datel ofl deathl orl agel
100,l sol longl asl thel fixedl andl requiredl premiumsl ofl thel variablel policyl arel paid
2.Variablel Deathl Benefit:l isl createdl byl al portionl ofl thel netl investmentl resultsl ofl thel
separatel accountl portfoliosl selectedl byl thel policyowner
Q:l Guaranteedl Minimuml Deathl Benefit
Answer:
fixedl andl levell tol thel datel ofl deathl orl agel 100,l sol longl asl thel fixedl andl requiredl
premiumsl ofl thel variablel policyl arel paid
Q:l Variablel Deathl Benefit
Answer:
Thel amountl paidl tol al decedent'sl beneficiaryl thatl dependsl onl thel investmentl
performancel ofl anl insurancel company'sl separatel account.l Thel amountl isl addedl tol anyl
guaranteedl minimuml deathl benefit.
-goesl upl andl downl daily,l justl asl thel separatel accountl valuesl do,l andl therel isl NOl
guaranteel asl tol whatl itl willl bel atl anyl pointl inl thel future
Q:l True
Answer:
Tl orl F:l Evenl ifl thel variablel deathl benefitl goesl tol ZERO,l thel guaranteedl minimuml
deathl benefitl willl bel unaffectedl byl thisl negativel marketl performancel andl willl continuel
unchangedl sol longl asl thel fixedl andl requiredl premiumsl ofl thel variablel lifel policyl arel
paid
Q:l Variablel Cashl Value
, Answer:
isl createdl byl al portionl ofl thel netl investmentl resultsl ofl thel separatel accountl portfoliosl
selectedl byl thel policyownersl
-goesl upl andl downl daily,l justl asl thel separatel accountl valuesl do,l andl therel isl nol
guaranteel asl tol whatl itl willl bel atl anyl pointl inl thel future
-NOl guaranteedl minimuml cashl value
Q:l Freel Lookl Period
Answer:
Anl amountl ofl timel providedl tol anl insuredl inl orderl tol examinel thel insurancel policy
-10l daysl forl alll lifel insurancel policiesl froml datel ofl policyl deliveryl tol thel owner
-45l daysl forl variablel lifel policiesl thatl allowl 45l froml beginningl ofl applicationl orl
purchasel date
Q:l Reinstatementl Provision
Answer:
permitsl thel insuredl tol reinstatel al lapsedl cashl valuel lifel insurancel policyl (wholel life)
-thel requestl tol reinstatel mustl bel submittedl tol thel insurerl withinl 3l yearsl froml thel datel
ofl lapse
-al newl applicationl andl anyl requiredl proofsl ofl insurabilityl mustl bel submitted
-alll backl premiumsl mustl bel paid
-interestl onl thel backl premiumsl mustl bel paid
-anyl outstandingl loansl againstl thel policyl mustl bel repaid
Q:l 6%
Answer:
Thel maximuml annuall interestl anl insurerl mayl chargel onl backl premiumsl isl ______l %
