Life, accident, health agent State Exam Questions & Answers 100% Accurate

Which type of disability would be less than total impairment and equal to permanent impairment? 1. Residual Partial Disability 2. Partial Total Disability 3. Temporary Partial Disability 4. Permanent Partial Disability - ANSWER-4. Permanent Partial Disability A limited payment whole life policy provides 1. Protection for 20 years 2. Protection for more than one person 3. Lifetime Protection 4. Discounted Premiums - ANSWER-3. Lifetime Protection Which of these statements is NOT true concerning recurrent disabilities? 1. The insurer continues coverage after a new elimination period. 2. The recurrent disability must be caused from the original disability. 3. The recurrence of a disability must occur within a specified time period after the prior disability. 4. A recurrent disability is considered to be a continuation of the prior disability. - ANSWER-1. The insurer continues coverage after a new elimination period. XYZ Corp pays the tax-deductible insurance premiums for a key employee disability policy. Which of the following would be the appropriate tax consequence? 1. Benefits are fully taxable. 2. Premiums are paid with tax credits. 3. Benefits are partially taxable. 4. Premiums are paid with after-tax dollars. - ANSWER-1. Benefits are fully taxable.