Life Exam Prometric Study Guide Questions And Actual Answers.

All of the following statements about the provisions in a typical modification clause in a life insurance policy are true EXCEPT: - Answer The authority to bind the insurance company to policy changes or modifications is limited to specified persons. The lowest total annual premium expenditure usually results when premiums are paid: - Answer Annually A preferred risk classification for a whole life insurance policy means that: - Answer The premium rate is lower than the standard rate for the identical policy The gross annual premium for a whole life insurance policy is the net premium: - Answer Plus Expenses Which one of the following statements about a life insurance policy rider regarding waiver of premiums and disability income is true? - Answer In addition to waiving premiums during periods of disability, it provides a monthly income. A withdrawal from a deferred annuity must be authorized by - Answer The Owner The beneficiary of a life insurance policy originally is indicated: - Answer On the life insurance application Life insurance helps meet estate planning objectives because it is: - Answer A liquid asset at death Current interest rates provide a reasonable basis for projecting cash values in a fixed annuity when: - Answer The current interest rate is close to historical standards Which provision can provide for the payment of life insurance benefits to the insured while living? - Answer An accelerated benefit provision