DELAWARE LIFE INSURANCE EXAM 2024 WITH 100% CORRECT ANSWERS

What is the benefit of choosing extended term as a nonforfeiture option? - correct answer It has the highest amount of insurance protection Upon the death of the insured, the primary beneficiary discovers that the insured chose the interest only settlement option. What does this mean? - correct answer The beneficiary will only receive payments of the interest earned on the death benefit If a life insurance policy has an irrevocable beneficiary designation, - correct answer the beneficiary can only be changed with written permission of the beneficiary Which of the following terms means a result of calculation based on the average number of months the insured is projected to live due to medical history and mortality factors - correct answer life expectancy Which is NOT true about beneficiary designations? - correct answer The beneficiary must have insurable interest in the insured. which of the following is true regarding taxation of dividends in participating policies? - correct answer dividends are not taxable An insured will be allowed to reactivate her lapsed life insurance policy if action is taken within a certain