Califomia Life, Accident, And Health Insurance Exam Questions And Answers 100% Solved

Califomia Life, Accident, And Health Insurance Exam Questions And Answers 100% Solved Which of the following are common personal uses for life insurance —ANSWER: Estate planning, Cash accumulation, Protection of survivors Which ofthe following is a characteristic of an interest sensitive whole life policy - ANSWER: Flexible premiums, Guaranteed minimum death benefit, Guaranteed minimum rate of return. What type of policy provides coverage for life, but the premiums are not due beyond age 65, has guaranteed premium, accumulates cash value and the coverage will never decrease - ANSWER: A limited pay life policy Under the PPACA, the shared responsibility payment is assessed on what basis? - ANSWER: Monthly Which of the following statements is true about conditions to reinstate a lapsed life insurance policy? - ANSWER: The policy has been expired no more than 3 years An insurance company whose main responsibility is to make money for its policyholders is called a: ANSWER: Mutual insurance company How does the California Insurance Code define an insurance contract? - ANSWER: A legal agreement made between an insurance company and an individual