IDAHO LIFE INSURANCE EXAM 2024

All of the following statements concerning the use of life insurance as an Executive Bonus are correct EXCEPT A The employer pays a bonus to a selected employee to fund the policy. B It is considered a nonqualified employee benefit. C The policy is owned by the company. D Any type of insurance policy may be used. - correct answer C The policy is owned by the company. Which of the following would NOT fall into the category of costs associated with death? A The expense of a vacation for surviving family members B Funeral expenses C Final medical expenses of the insured D Day to day expenses of maintaining the family - correct answer A The expense of a vacation for surviving family members If an applicant for a life insurance policy is found to be a substandard risk, the insurance company is most likely to A Lower its insurability standards. B Refuse to issue the policy. C