2026 MN LIFE AND HEALTH EVALUATION TEST
QUESTIONS AND ANSWERS SURE A+
✔✔Suicide Exclusions - ✔✔- if insured commits suicide w/ in 2 years of the policy issue
date, the death benefit will not be paid
- the beneficiary will receive a refund of any premiums paid
✔✔War Exclusions - ✔✔- if insured dies because of war, the death benefit won't be paid
- the beneficiary will receive a refund of any prems paid + interest
✔✔Aviation exclusions` - ✔✔- if private pilot, death benefit won't be paid if died in an
aviation accident
✔✔Hazardous occupations or hobbies - ✔✔some insurers will exclude coverage from
occupation or hobbies if it involves a high risk danger
✔✔Spendthrift trust - ✔✔designed to protect insurance proceeds that haven't been paid
to the beneficiary, prevents the commuting of money to creditors
✔✔Settlement options (death benefit) - ✔✔cash, interest only, installment options, fixed
period, fixed amount
✔✔Life annuity options - ✔✔life income, joint & survivor income
, ✔✔Non forfeiture options - ✔✔Cash, extended term, reduced paid- up policy
✔✔Policy loan & withdrawal options - ✔✔- interest on policy loans may be deferred up
to 6 months
- loan + accrued interest will be repaid upon the insureds death or policy surrender
✔✔Automatic premium loans - ✔✔-allows insurance company to deduct unpaid
premiums from policies cash value if they have not been received by the end of the
grace period
✔✔Partial withdrawals (universal life only) - ✔✔- partial withdrawal of policies cash
value w/o having to pay interest on the money
- if made, death benefit is permanently reduced
✔✔Dividend options - ✔✔cash, premium reductions, paid up addition, one year term,
accumulate at interest, endow the policy earlier
✔✔waiver of premium rider/ w/ disability - ✔✔-if disabled, no premiums are due for the
duration of the disability, but policy remains in force
- + continues to fund the cash value for the duration of the disability
- when policy owner & insured as the same person
✔✔Payor benefit rider - ✔✔- applies when policy owner is someone other than insured
- commonly used with juvenile life insurance
- waives premiums when the parent who owns the policy dies or becomes disables
- if other parent dies etc, premiums are still due
✔✔Guaranteed Insurability Rider - ✔✔- policyowner to purchase additional insurance at
specified times w/o having to prove insurability
- premiums ar based off the attained age at time coverage is added
- expires typically at age 40
✔✔Accidental death rider/ Multiple indemnity rider - ✔✔- if insured dies bc of accident,
the insurance co will pay the beneficiary an additional death benefit
- Additional benefit if cause of death is accidental/ dead 90 days from accident
- expires around age 65
✔✔Accelerated Death Benefit/ Living Benefits Rider - ✔✔if the insured is diagnosed w/
a terminal illness, the insurer pays a % of the death benefit while insured is still alive
- death benefit will be reduced by the amt. paid before death
✔✔Children Term rider - ✔✔Allows children of insured to be added to coverage
- level term insurance
QUESTIONS AND ANSWERS SURE A+
✔✔Suicide Exclusions - ✔✔- if insured commits suicide w/ in 2 years of the policy issue
date, the death benefit will not be paid
- the beneficiary will receive a refund of any premiums paid
✔✔War Exclusions - ✔✔- if insured dies because of war, the death benefit won't be paid
- the beneficiary will receive a refund of any prems paid + interest
✔✔Aviation exclusions` - ✔✔- if private pilot, death benefit won't be paid if died in an
aviation accident
✔✔Hazardous occupations or hobbies - ✔✔some insurers will exclude coverage from
occupation or hobbies if it involves a high risk danger
✔✔Spendthrift trust - ✔✔designed to protect insurance proceeds that haven't been paid
to the beneficiary, prevents the commuting of money to creditors
✔✔Settlement options (death benefit) - ✔✔cash, interest only, installment options, fixed
period, fixed amount
✔✔Life annuity options - ✔✔life income, joint & survivor income
, ✔✔Non forfeiture options - ✔✔Cash, extended term, reduced paid- up policy
✔✔Policy loan & withdrawal options - ✔✔- interest on policy loans may be deferred up
to 6 months
- loan + accrued interest will be repaid upon the insureds death or policy surrender
✔✔Automatic premium loans - ✔✔-allows insurance company to deduct unpaid
premiums from policies cash value if they have not been received by the end of the
grace period
✔✔Partial withdrawals (universal life only) - ✔✔- partial withdrawal of policies cash
value w/o having to pay interest on the money
- if made, death benefit is permanently reduced
✔✔Dividend options - ✔✔cash, premium reductions, paid up addition, one year term,
accumulate at interest, endow the policy earlier
✔✔waiver of premium rider/ w/ disability - ✔✔-if disabled, no premiums are due for the
duration of the disability, but policy remains in force
- + continues to fund the cash value for the duration of the disability
- when policy owner & insured as the same person
✔✔Payor benefit rider - ✔✔- applies when policy owner is someone other than insured
- commonly used with juvenile life insurance
- waives premiums when the parent who owns the policy dies or becomes disables
- if other parent dies etc, premiums are still due
✔✔Guaranteed Insurability Rider - ✔✔- policyowner to purchase additional insurance at
specified times w/o having to prove insurability
- premiums ar based off the attained age at time coverage is added
- expires typically at age 40
✔✔Accidental death rider/ Multiple indemnity rider - ✔✔- if insured dies bc of accident,
the insurance co will pay the beneficiary an additional death benefit
- Additional benefit if cause of death is accidental/ dead 90 days from accident
- expires around age 65
✔✔Accelerated Death Benefit/ Living Benefits Rider - ✔✔if the insured is diagnosed w/
a terminal illness, the insurer pays a % of the death benefit while insured is still alive
- death benefit will be reduced by the amt. paid before death
✔✔Children Term rider - ✔✔Allows children of insured to be added to coverage
- level term insurance
