Life Insurance Practice Exam Questions With 100% Correct Answers

Life Insurance Practice Exam Questions With 100% Correct Answers jason is the insured in a 100,000 10 year long renewable term policy. Soon after taking out the policy, he develops a serious heart condition. will he be able to renew his policy? - answeryes which policy has the lowest annual premium? - answerwhole life the primary purpose of an annuity is to - answerprovide income for an individuals retirement under what circumstance would an insurance applicant be asked to submit a signed statement of continued good health? - answerwhen the initial premium is not submitted with the application when a firm establishes a contributory group term life insurance contract, what percentage test must be met for the participation? - answer75% a lapsed policy may usually be reinstated... - answerwithin 3 years after the policy lapses all of the following statements are true to the 10 day free look provision in a life insurance policy - answerA. the 10 day free look period begins when the insured receives the contract B. an insured who returns the policy within the 10-day free look period will receive a full refund of premiums paid C. to get a refund, the policyholder must notify the insurer in writing amanda's life insurance policy names her sister Joyce as irrevocable beneficiary of the policy proceeds. this means that - answeramanda can borrow against the policy's cash value but only with joyce permission. The following statement concerning the Fair Credit Reporting Act is correct - answerit requires the that the applicant for insurance coverage will be informed if a consumer report is requested The underwriting department of life insurance company acquires information on an applicant for life insurance coverage from all of the following sources... - answerA. an agents report B. the life insurance application