Colorado life | Questions with 100% correct answers | verified

A person has inherited a sum of money. She is age 60 and desires to purchase an annuity that will appreciate with market and economic conditions. Which of the following types of annuities should she consider? - Variable A statement that an applicant for life insurance makes on their application, that is the truth to the best of their knowledge, is considered to be an - Representation Which of the following is not true regarding the provisions of the federal Fair Credit Reporting Act? - If adverse action is taken as a result of a report, the insurer must give the customer a copy of the report Which of the following statements about underwriting selection is/are true? - Insurance companies may use family history to rate an applicant, if the history reveals a family characteristic that also appears in the applicant Which insuring substandard life insurance risks, provIsions arc usually made for the expected higher death rate by: - Charging an extra premium The waiver of premium benefit covers disabilities resulting from which of the following? - Sickness or accident & Sudden and permanent non-occupational injury The survivor life annuity contract calls for the beneficiary to receive a - Predetermined income for life When a corporation establishes a contributory group term contract, what percentage must be met for participation? - 75% If a proposed insured has a hazardous occupation, the insurance company may: - Rate the insured in' a life insurance policy does not permit the policy owner to change the beneficiary, the beneficiary is: - Irrevocable