PSI Life Insurance Exam Questions with Correct Answer
PSI Life Insurance Exam Questions with Correct Answer In a level term life policy, which ALWAYS remains constant? - Answer- death benefit Why is the accidental death benefit referred to as double indemnity? - Answer- It provides twice the face value in the policy for death due to accident. Which of the following is TRUE for a flexible premium annuity? - Answer- The purchaser has the option to vary the amount of each premium payment falling between a minimum and maximum amount. Which of the following occurs immediately after the application is submitted and the initial premium paid? - Answer- the underwriting process begins In order to AVOID being classified as an MEC, a policy must pass which of the following? - Answer- seven-pay test Which of the following lists the three common types of permanent individual life insurance? - Answer- Variable Life, Whole Life, Universal Life
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- PSI LIFE INSUARANCE
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- March 27, 2024
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- 2023/2024
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- Exam (elaborations)
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- Questions & answers
Subjects
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psi life insurance exam questions with correct ans
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term insurance types provides temporary protection
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switching the policy from one insured to another
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regarding assignment rights for irrevocable benef
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