Sc life and health final Exam Questions & Answers Rated A+

Jonas has disability insurance through his employer . The employer pays 75 % of the premium , and Jonas pays the other 25 % . What is Jonas's tax liability for any benefits paid from the disability plan ? O Taxes must be paid on all benefits received O No taxes are payable on any benefits received O Taxes must be paid on 25 % of the benefits received O Taxes must be paid on 75 % of the benefits received - ANSWER-Taxes must be paid on 75% of the benefits received Benefits provided by a Medicare Supplement policy must NOT O be payable to the insured O duplicate Medicare benefits O be sold to individuals under 70 O charge additional premiums - ANSWER-Duplicate medicare benefits Which situation accurately describes a reduced paid - up nonforfeiture option ? O Policy has a decreased face amount O Face amount of the new policy equals that of the original policy O Cash value is surrendered to policyowner O Premiums must continue to be paid - ANSWER-Policy has a decreased face amount What kind of life insurance policy covers two or more people with the death benefit payable upon the last person's death ? O Dual Life insurance Joint Life insurance Last Survivor Life insurance O Shared Life insurance - ANSWER-Last survivor life insurance