2026 INDIANA LIFE HEALTH EVALUATION EXAM
QUESTIONS AND ANSWERS SURE A+
✔✔If a new life insurance policy is replacing an existing one, the insured is given the
right to return for a full refund of at least ____ days after policy delivery?
10
20
30
40 - ✔✔20
✔✔What is required for Producers to sell Long Term Care in Indiana?
Eight hours of post licensing education specifically devoted to LTC
Twelve hours of post licensing education specifically devoted to LTC
A Chartered Long Term Care designation
Passing a separate examination specifically devoted to Long Term Care - ✔✔Eight
hours of post licensing education specifically devoted to LTC
,✔✔S is a life insurance policyowner who enters into a written agreement to receive
immediate cash in exchange for the sale transfer of her life insurance policy. This
agreement is referred to as a?
1035 Exchange
Viatical Settlement
Equity Cash Agreement
Cash Conversion - ✔✔Viatical Settlement
✔✔The Indiana Children's Health Insurance Program provides children of need with
health benefits until the child reaches age ____ or becomes financially ineligible,
whichever is earlier?
18
19
20
21 - ✔✔19
✔✔A life policy loan in Indiana cannot charge a fixed of interest higher than?
7%
8%
9%
10% - ✔✔8%
✔✔According to Indianas Mammography Coverage statue, which of these benefits are
considered mandatory in every Medical Expense Policy?
One baseline mammogram for women between ages 30-34
One mammogram every year for women aged 35 and older
One mammogram every year for women aged 40 and older
Two mammograms every year for those considered "women at risk" - ✔✔One
mammogram every year for women aged 40 and older
✔✔What is the minimum Grace Period for an individual health policy that is paid
monthly?
5 Days
10 Days
15 Days
30 Days - ✔✔10 Days
,✔✔What is the excise tax rate the IRS imposes on individuals aged 70 1/2 or older who
do not take the required minimum distributions from their qualified retirement plan?
30%
40%
50%
60% - ✔✔50%
✔✔The Common Disaster clause provides that if both the insured and sole named
beneficiary were to die in a common accident, which of the following is true?
This clause provides the payment of proceeds to the insured's estate
This clause provides the payment of proceeds to the beneficiary's estate
The estate taxes in the insured's estate may be reduced
The estate taxes in the beneficiary's estate may be reduced - ✔✔This clause provides
the payment of proceeds to the insured's estate
✔✔What is considered a valid reason for small businesses to insure the lives of its
major shareholders?
To provide an income for the surviving dependents
Reduce the company's tax liability
To pay for final expenses
Fund a buy-sell agreement - ✔✔Fund a buy-sell agreement
✔✔Which of these Nonforfeiture Options continue a build-up of cash value?
Waiver of Premium
Extended Term
Reduced Paid-Up
Cash Surrender - ✔✔Reduced Paid-Up
✔✔A producer's license may be denied, suspended, or revoked if the license?
Engages in replacement of an existing policy
Is found guilty of misrepresentation in obtaining the license
Files for bankruptcy
, Does not meet a sales quota - ✔✔Is found guilty of misrepresentation in obtaining the
license
✔✔When a policyowner cash surrenders a Universal Life insurance policy in it's early
years, this may be considered a red flag for a?
Federal Fair Credit Act Violation
Title 18 Fraud Violation
Anti-Money Laundering Violation
Unfair Trade Practice Violation - ✔✔Anti-Money Laundering Violation
✔✔A policyowner is allowed to pay premiums more than once a year under which
provision?
Insuring
Consideration
Payor
Mode of Premium - ✔✔Mode of Premium
✔✔Non-occupational disability coverage is designed for?
24 hour protection
Those who are exempt from Workers' Compensation coverage
Sole proprietors and self-employed individuals
Employees who suffer non-work related disabilities, since work-related disabilities are
covered be Workers' Compensation - ✔✔Employees who suffer non-work related
disabilities, since work-related disabilities are covered be Workers' Compensation
✔✔In order to establish a Health Reimbursement Arrangement, it must?
Be offered in conjunction with other employer provided health benefits
Limit the benefits to prescription drugs only
Be established be the employer
Limit the amount of money the employee can contribute toward the account - ✔✔Be
established be the employer
✔✔The Accidental Death and Dismemberment provision in a life insurance policy would
pay additional benefits if the insured?
QUESTIONS AND ANSWERS SURE A+
✔✔If a new life insurance policy is replacing an existing one, the insured is given the
right to return for a full refund of at least ____ days after policy delivery?
10
20
30
40 - ✔✔20
✔✔What is required for Producers to sell Long Term Care in Indiana?
Eight hours of post licensing education specifically devoted to LTC
Twelve hours of post licensing education specifically devoted to LTC
A Chartered Long Term Care designation
Passing a separate examination specifically devoted to Long Term Care - ✔✔Eight
hours of post licensing education specifically devoted to LTC
,✔✔S is a life insurance policyowner who enters into a written agreement to receive
immediate cash in exchange for the sale transfer of her life insurance policy. This
agreement is referred to as a?
1035 Exchange
Viatical Settlement
Equity Cash Agreement
Cash Conversion - ✔✔Viatical Settlement
✔✔The Indiana Children's Health Insurance Program provides children of need with
health benefits until the child reaches age ____ or becomes financially ineligible,
whichever is earlier?
18
19
20
21 - ✔✔19
✔✔A life policy loan in Indiana cannot charge a fixed of interest higher than?
7%
8%
9%
10% - ✔✔8%
✔✔According to Indianas Mammography Coverage statue, which of these benefits are
considered mandatory in every Medical Expense Policy?
One baseline mammogram for women between ages 30-34
One mammogram every year for women aged 35 and older
One mammogram every year for women aged 40 and older
Two mammograms every year for those considered "women at risk" - ✔✔One
mammogram every year for women aged 40 and older
✔✔What is the minimum Grace Period for an individual health policy that is paid
monthly?
5 Days
10 Days
15 Days
30 Days - ✔✔10 Days
,✔✔What is the excise tax rate the IRS imposes on individuals aged 70 1/2 or older who
do not take the required minimum distributions from their qualified retirement plan?
30%
40%
50%
60% - ✔✔50%
✔✔The Common Disaster clause provides that if both the insured and sole named
beneficiary were to die in a common accident, which of the following is true?
This clause provides the payment of proceeds to the insured's estate
This clause provides the payment of proceeds to the beneficiary's estate
The estate taxes in the insured's estate may be reduced
The estate taxes in the beneficiary's estate may be reduced - ✔✔This clause provides
the payment of proceeds to the insured's estate
✔✔What is considered a valid reason for small businesses to insure the lives of its
major shareholders?
To provide an income for the surviving dependents
Reduce the company's tax liability
To pay for final expenses
Fund a buy-sell agreement - ✔✔Fund a buy-sell agreement
✔✔Which of these Nonforfeiture Options continue a build-up of cash value?
Waiver of Premium
Extended Term
Reduced Paid-Up
Cash Surrender - ✔✔Reduced Paid-Up
✔✔A producer's license may be denied, suspended, or revoked if the license?
Engages in replacement of an existing policy
Is found guilty of misrepresentation in obtaining the license
Files for bankruptcy
, Does not meet a sales quota - ✔✔Is found guilty of misrepresentation in obtaining the
license
✔✔When a policyowner cash surrenders a Universal Life insurance policy in it's early
years, this may be considered a red flag for a?
Federal Fair Credit Act Violation
Title 18 Fraud Violation
Anti-Money Laundering Violation
Unfair Trade Practice Violation - ✔✔Anti-Money Laundering Violation
✔✔A policyowner is allowed to pay premiums more than once a year under which
provision?
Insuring
Consideration
Payor
Mode of Premium - ✔✔Mode of Premium
✔✔Non-occupational disability coverage is designed for?
24 hour protection
Those who are exempt from Workers' Compensation coverage
Sole proprietors and self-employed individuals
Employees who suffer non-work related disabilities, since work-related disabilities are
covered be Workers' Compensation - ✔✔Employees who suffer non-work related
disabilities, since work-related disabilities are covered be Workers' Compensation
✔✔In order to establish a Health Reimbursement Arrangement, it must?
Be offered in conjunction with other employer provided health benefits
Limit the benefits to prescription drugs only
Be established be the employer
Limit the amount of money the employee can contribute toward the account - ✔✔Be
established be the employer
✔✔The Accidental Death and Dismemberment provision in a life insurance policy would
pay additional benefits if the insured?
