GA: Life Insurance Exam Questions and Answers 100% Pass

GA: Life Insurance Exam Questions and Answers 100% Pass When does an Endowment Life policy mature? - Correct Answer ️️ -When the Insured dies or reaches the age or date of endowment. A securities license is required to sell which of the following? - Correct Answer ️️ - Variable Universal Life Which is a community based provider of insurance benefits: - Correct Answer ️️ -PPO The Payor Benefit Rider is commonly found in policies insuring: - Correct Answer ️️ - juveniles. A policy's coverage becomes effective when? - Correct Answer ️️ -The policy is physically delivered to the applicant, assuming the premium has been paid. Under Social Security, one who is Fully Insured has worked and contributed to FICA for at least: - Correct Answer ️️ -40 quarters. Under an IRA: - Correct Answer ️️ -Payouts must begin by 72. Group life paid for by the employer is tax deductible for the employer. The premium is not considered to be taxable income for the employee unless the amount of the death benefit exceeds: - Correct Answer ️️ -$50,000. Life insurance protects against: - Correct Answer ️️ -dying too soon. Each of the following Annuity payout options may continue to pay a benefit to a surviving spouse EXCEPT: - Correct Answer ️️ -A Straight Life Annuity. Which provision found in Disability policies stipulates that the Insured must wait 60 days after filing a claim before filing a lawsuit against the Insurer? - Correct Answer ️️ -Legal Action Which of the following is a characteristic of Long Term Care policies? - Correct Answer ️️ -They must contain a nonforfeiture provision. Social Security provides each of the following benefits EXCEPT: - Correct Answer ️️ - Unemployment benefits Which of the following permits a Term Policy to be changed to a permanent policy without proof of insurability? - Correct Answer ️️ -Conversion Provision Which section of the health policy contains the pre-existing conditions? - Correct Answer ️️ -Insuring Clause Indemnity means: - Correct Answer ️️ -Being made whole. Who can make changes to an insurance policy? - Correct Answer ️️ -An executive officer of the insurance company. Under what circumstances can a policy owner exercise the Free Look Provision? - Correct Answer ️️ -For any reason as long as it is within the specified time period. Which section of the life policy may provide that the policy will not pay claims due to military action, foreign travel, or suicide? - Correct Answer ️️ -Insuring Agreement The DI policy's Time of Payment of Claims provision permits each of the following benefit payment modes EXCEPT: - Correct Answer ️️ -Quarterly