Life insurance psi Exam Questions and
Answers 2026 Update
convertible - Correct Answers ✅Which of the following
term insurance types provides temporary protection that can
be changed to some type of permanent protection without
evidence of insurability?
Variable Universal Life - Correct Answers ✅Which policy
type is backed by equity investments and allows the
policyholder to adjust the death benefit?
Continuous Premium - Correct Answers ✅Which whole life
policy premium type is the most common?
variable - Correct Answers ✅Which type of annuity
attempts to offset inflation by providing a benefit linked to an
underlying investment account?
Death Benefit - Correct Answers ✅In a level term life
policy, which ALWAYS remains constant?
Variable Life, Whole Life, Universal Life - Correct Answers
✅Which of the following lists the three common types of
permanent individual life insurance?
It has a guaranteed minimum interest rate. - Correct
Answers ✅Which of the following is TRUE of an equity-
indexed annuity?
, Life insurance psi Exam Questions and
Answers 2026 Update
interest rates - Correct Answers ✅Current assumption
whole life policies are sensitive to which of the following?
The purchaser has the option to vary the amount of each
premium payment falling between a minimum and maximum
amount. - Correct Answers ✅Which of the following is
TRUE for a flexible premium annuity?
Coverage continues after the policy is paid-up. - Correct
Answers ✅Which of the following is TRUE of the limited pay
whole life policy?
It begins with little or no insurance protection. - Correct
Answers ✅Which of the following is common in an
increasing term life policy?
Joint and survivorship option - Correct Answers ✅Which
annuity settlement option provides a stated monthly amount
to the annuitant and upon the annuitant?s death the same or
a lesser amount paid for the lifetime of the survivor?
The proceeds are divided equally among living primary
beneficiaries. - Correct Answers ✅How does the per capita
rule apply to proceeds from a life insurance policy?
Answers 2026 Update
convertible - Correct Answers ✅Which of the following
term insurance types provides temporary protection that can
be changed to some type of permanent protection without
evidence of insurability?
Variable Universal Life - Correct Answers ✅Which policy
type is backed by equity investments and allows the
policyholder to adjust the death benefit?
Continuous Premium - Correct Answers ✅Which whole life
policy premium type is the most common?
variable - Correct Answers ✅Which type of annuity
attempts to offset inflation by providing a benefit linked to an
underlying investment account?
Death Benefit - Correct Answers ✅In a level term life
policy, which ALWAYS remains constant?
Variable Life, Whole Life, Universal Life - Correct Answers
✅Which of the following lists the three common types of
permanent individual life insurance?
It has a guaranteed minimum interest rate. - Correct
Answers ✅Which of the following is TRUE of an equity-
indexed annuity?
, Life insurance psi Exam Questions and
Answers 2026 Update
interest rates - Correct Answers ✅Current assumption
whole life policies are sensitive to which of the following?
The purchaser has the option to vary the amount of each
premium payment falling between a minimum and maximum
amount. - Correct Answers ✅Which of the following is
TRUE for a flexible premium annuity?
Coverage continues after the policy is paid-up. - Correct
Answers ✅Which of the following is TRUE of the limited pay
whole life policy?
It begins with little or no insurance protection. - Correct
Answers ✅Which of the following is common in an
increasing term life policy?
Joint and survivorship option - Correct Answers ✅Which
annuity settlement option provides a stated monthly amount
to the annuitant and upon the annuitant?s death the same or
a lesser amount paid for the lifetime of the survivor?
The proceeds are divided equally among living primary
beneficiaries. - Correct Answers ✅How does the per capita
rule apply to proceeds from a life insurance policy?
