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Alabama Life Insurance Questions with
Detailed Verified Answers (100% Correct
Answers) /Already Graded A+
At what point does coverage begin when an agent issues a conditional receipt
for a life insurance policy?
Ans: date of application or date of medical exam whichever is last
What is the purpose of insurance guaranty associations?
Ans: to protect policy owners, insureds, and beneficiaries from financial losses caused by
insolvent insurers
Which of the following is true about a defined benefit plan?
Ans: High-salaried employees with only a few years until retirement receive the highest
contribution.
The insured had his wife named as the beneficiary of his life insurance policy. To
ensure that his wife had income for life after the insured's death, he chose the
life income settlement option. The amount of payments will be determined by
taking into account all of the following EXCEPT
Ans: The insureds age at death
All of the following entities regulate variable life policies EXCEPT
Ans: The Guaranty Association
When the insurer stipulates the time period for payment of claims, how soon must
the insurer pay a death benefit claim after receiving the proof of death?
Ans: 2 months
The two types of assignments are
Click here for more: Preppass - Stuvia
Alabama Life Insurance Questions with
Detailed Verified Answers (100% Correct
Answers) /Already Graded A+
At what point does coverage begin when an agent issues a conditional receipt
for a life insurance policy?
Ans: date of application or date of medical exam whichever is last
What is the purpose of insurance guaranty associations?
Ans: to protect policy owners, insureds, and beneficiaries from financial losses caused by
insolvent insurers
Which of the following is true about a defined benefit plan?
Ans: High-salaried employees with only a few years until retirement receive the highest
contribution.
The insured had his wife named as the beneficiary of his life insurance policy. To
ensure that his wife had income for life after the insured's death, he chose the
life income settlement option. The amount of payments will be determined by
taking into account all of the following EXCEPT
Ans: The insureds age at death
All of the following entities regulate variable life policies EXCEPT
Ans: The Guaranty Association
When the insurer stipulates the time period for payment of claims, how soon must
the insurer pay a death benefit claim after receiving the proof of death?
Ans: 2 months
The two types of assignments are
