North Carolina Life and Health Insurance Final Exam | 150 Questions with 100% Correct Answers | Verified | Latest Update 2024

M completes an application for life insurance but does not pay the initial premium. All of these actions must occur before M's policy goes into effect EXCEPT - free-look period has expired Additional coverage can be added to a Whole Life policy by adding a(n) - decreasing term rider All of the following actions are considered rebating EXCEPT - sharing commissions with other licensed and appointed agents One of the stated purposes of the Life and Health Insurance Guaranty Association is to - assist in the prevention of insurer insolvencies Which of the following statements is CORRECT about the period in which a Term Policy can be converted? - It varies according to the contracts Insurance agents MUST obtain a license from North Carolina's - Commissioner of Insurance An accident policy will most likely pay a benefit for a(n) - off-the-job accident