SC life insurance exam study set Questions with correct Answers

An insurer will accept a premium from the insured and continue theicoverage in full force as though it was NOT late during which time period? Incontestable period Probation period Reinstatement period Grace period - ANSWER-Grace period A person who is a nonsmoker, of average weight, and in excellent health would most likely be in which risk classification? Standard Substandard Acceptable Preferred - ANSWER-Preferred Which of these is affected by the frequency of an insurance policy's premium payments? Settlement options Cash value Death benefit Cost - ANSWER-Cost A Buyer's Guide MUST display year-by-year cash surrender values @ have it's content approved by the Director include the name of the Director explain the company's specific underwriting procedures - ANSWER-Have its content approved by the director