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Life Insurance Exam 1 (Primerica) {Questions With 100% Correct Answers} (2024 / 2025) (Verified by Experts)
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401k plan - ANSWER A qualified retirement plan in which the employee can set aside a portion of their income with pre-tax dollars. Absolute Assignment v. Collateral Assignment - ANSWER Absolute: A permanent and irrevocable transfer of rights and/or benefits by the policyowner. Collateral: A temporary and/or revocable transfer of benefits by the policyowner. Accelerated Death Benefit - ANSWER Policy provision that allows full or partial payment of the policy's death benefit before the insured's death if he/she is terminally ill
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