Georgia Life, Accident& Sickness Agent Exam Questions and Answers 100% Pass

Georgia Life, Accident& Sickness Agent Exam Questions and Answers 100% Pass Term Insurance - Correct Answer ️️ -Has no cash value, and you are only covered for a certain period of time, Temporary Decreasing Term - Correct Answer ️️ -Face value decreases, this type of insurance is used for a mortgage or to cover a loan Increasing Term - Correct Answer ️️ -Also known as ROP/ return of premium policy the Base amount increases based on the amount of premium you pay Annual Renewable Term - Correct Answer ️️ -What you are covered for stays the same but the Premium goes up every year. Its considered to be Level Term because the face value stays the same, and its also the cheapest the first year Level Term - Correct Answer ️️ -Stays Leveled but its the most expensive the first year. Endowment - Correct Answer ️️ -Means MORE, expensive Single Premium - Correct Answer ️️ -Builds immediate cash Value, you make one big lump some all at one time and the Insurance company will play with the amount you gave them so your policy will last for the rest of your life. Target Premium - Correct Answer ️️ -The amount your pay to keep your Policy for lapsing