Life Insurance Exam Questions with correct Answers

Life Insurance Exam Questions with correct Answers J has a life policy with the Guaranteed Insurability rider. J has just celebrated their 42nd birthday and realizes that she wants to use her rider and buy more death benefit. Which of the following will apply to J's request? . An insured has a policy with a Waiver of Premium rider. The insured has suffered an illness that will prevent them for working for two years. When will their premiums be waived? The clause that defines and describes the scope of coverage and the limits of indemnification is known as the: D has just paid off his mortgage and has decided that he no longer needs his life insurance policy which he originally purchased to cover the house payments should he die. If D explores the possibly of selling his policy while he is still alive, it is known as: Combination/Variation Plans insure: What is the tax consideration for taking a cash dividend option? Which of the following is not true regarding a renewable option on a term policy? Which of the following is considered to be part of the Entire Contract? Company A has a partnership with Company Z. There is an agreement in place that if the CEO of either company were to die, the other company would receive money to buy out the partnership. This is an example of: All of the following are true regarding the Guaranty Association EXCEPT: G has a credit life policy and is replacing that with a whole life policy. The agent must: Each of the following is an unfair claims practice by an insurance company, EXCEPT