CISR - Health & Life Essentials Questions
with Correct Answers 2025
InGaGLifeGInsuranceGContract,GwhoGisGtheGinsured?G-GCORRECTGANSWERG-
TheGpersonGwhoseGlifeGisGinsured.
WhatGrequirementsGmustGbeGmetGforGaGpersonGtoGbeGinsured?G-GCORRECTGANSWERG-1G-
GBeGinsurableGbasedGonGunderwritingGguidelines.G
2G-GAnswerGallGquestionsGandGsignGapplicationsG(unlessGaGminor).
3G-GGrantGpermissionGtoGobtainGinformationGsuchGasGAPSG&GMIB.
AccordingGtoGLifeGInsuranceGContracts,GtheGownerGmayGorGnotGbeGtheGinsured.GIfGtheGownerGisGnot
GtheGinsuredGwhatGmustGheGorGsheGhave?G-GCORRECTGANSWERG-InsurableGinterestG-
GaGlegitimateGreasonGtoGpurchaseGinsuranceGonGtheGinsured'sGlife.
WhatGdoesGtheGownerGofGaGLifeGInsuranceGpolicyGhaveGtheGpowerGtoGdo?G-GCORRECTGANSWERG-1G-
GNameGtheGbeneficiary.
2G-GMakeGchangesGtoGtheGpolicy.
3G-GControlGcashGvalues.
4G-GSelectGavailableGoptions.
5G-GAssignGorGchangeGownershipGofGpolicy.
, AccordingGtoGaGLifeGInsuranceGpolicy,GwhoGisGaGpremiumGpayor?G-GCORRECTGANSWERG-
TheGpersonGwhoGpaysGtheGpremiumsGonGtheGinsuranceGpolicy.GThisGpersonGcanGalsoGbeGtheGowner
Gand/orGinsured.
AccordingGtoGaGLifeGInsuranceGpolicy,GwhatGisGaGbeneficiary?G-GCORRECTGANSWERG-
TheGindividual(s)GorGentityGwhoGreceivesGtheGdeathGbenefitGfromGtheGlifeGinsuranceGpolicy.
WhatGisGtheGSurvivorshipGClause?G-GCORRECTGANSWERG-
WhenGtheGdeathGofGtheGinsuredGandGtheGprimaryGisGatGtheGsameGtime,GtheGbenefitsGwouldGskipGth
eGprimaryGbeneficiaryGandGpaidGtoGtheGcontingent;GifGtheGcontingentGisGnotGmade,GproceedsGgoGto
GtheGestateGofGtheGinsured.
WhatGdoesGrevocableGmean?G-GCORRECTGANSWERG-CanGbeGchangedGanytimeGbyGtheGowner.
WhatGdoesGirrevocableGmean?G-GCORRECTGANSWERG-
CanGonlyGbeGchangedGwithGconsentGofGthatGbeneficiary.
AccordingGtoGaGLifeGInsuranceGpolicy,GwhoGisGtheGassignee?G-GCORRECTGANSWERG-
TheGpersonGorGentityGtoGwhomGtheGtitle,Grights,GandGbenefitsGunderGaGlifeGinsuranceGpolicyGareGas
signedGandGisGinGadditionGtoGtheGbeneficiary.
WhenGcanGaGtransferGofGbenefitsGoccur?G-GCORRECTGANSWERG-
WhenGtheGassignor,GorGownerGofGaGlifeGinsuranceGpolicy,GtransfersGtheGbenefitsGasGcollateral,Gensu
ringGaGdebtGisGpaid.
WhoGevaluatesGtheGapplicantGorGriskGthroughGtheGprocessGofGunderwritingGandGmakesGanGofferGof
Ginsurance?G-GCORRECTGANSWERG-TheGinsurerG(alsoGknownGasGtheGcompanyGorGcarrier).
WhyGmightGpeopleGbeGrequiredGtoGpurchaseGLifeGInsurance?G-GCORRECTGANSWERG-1G-
GRequirementGforGaGloan.
with Correct Answers 2025
InGaGLifeGInsuranceGContract,GwhoGisGtheGinsured?G-GCORRECTGANSWERG-
TheGpersonGwhoseGlifeGisGinsured.
WhatGrequirementsGmustGbeGmetGforGaGpersonGtoGbeGinsured?G-GCORRECTGANSWERG-1G-
GBeGinsurableGbasedGonGunderwritingGguidelines.G
2G-GAnswerGallGquestionsGandGsignGapplicationsG(unlessGaGminor).
3G-GGrantGpermissionGtoGobtainGinformationGsuchGasGAPSG&GMIB.
AccordingGtoGLifeGInsuranceGContracts,GtheGownerGmayGorGnotGbeGtheGinsured.GIfGtheGownerGisGnot
GtheGinsuredGwhatGmustGheGorGsheGhave?G-GCORRECTGANSWERG-InsurableGinterestG-
GaGlegitimateGreasonGtoGpurchaseGinsuranceGonGtheGinsured'sGlife.
WhatGdoesGtheGownerGofGaGLifeGInsuranceGpolicyGhaveGtheGpowerGtoGdo?G-GCORRECTGANSWERG-1G-
GNameGtheGbeneficiary.
2G-GMakeGchangesGtoGtheGpolicy.
3G-GControlGcashGvalues.
4G-GSelectGavailableGoptions.
5G-GAssignGorGchangeGownershipGofGpolicy.
, AccordingGtoGaGLifeGInsuranceGpolicy,GwhoGisGaGpremiumGpayor?G-GCORRECTGANSWERG-
TheGpersonGwhoGpaysGtheGpremiumsGonGtheGinsuranceGpolicy.GThisGpersonGcanGalsoGbeGtheGowner
Gand/orGinsured.
AccordingGtoGaGLifeGInsuranceGpolicy,GwhatGisGaGbeneficiary?G-GCORRECTGANSWERG-
TheGindividual(s)GorGentityGwhoGreceivesGtheGdeathGbenefitGfromGtheGlifeGinsuranceGpolicy.
WhatGisGtheGSurvivorshipGClause?G-GCORRECTGANSWERG-
WhenGtheGdeathGofGtheGinsuredGandGtheGprimaryGisGatGtheGsameGtime,GtheGbenefitsGwouldGskipGth
eGprimaryGbeneficiaryGandGpaidGtoGtheGcontingent;GifGtheGcontingentGisGnotGmade,GproceedsGgoGto
GtheGestateGofGtheGinsured.
WhatGdoesGrevocableGmean?G-GCORRECTGANSWERG-CanGbeGchangedGanytimeGbyGtheGowner.
WhatGdoesGirrevocableGmean?G-GCORRECTGANSWERG-
CanGonlyGbeGchangedGwithGconsentGofGthatGbeneficiary.
AccordingGtoGaGLifeGInsuranceGpolicy,GwhoGisGtheGassignee?G-GCORRECTGANSWERG-
TheGpersonGorGentityGtoGwhomGtheGtitle,Grights,GandGbenefitsGunderGaGlifeGinsuranceGpolicyGareGas
signedGandGisGinGadditionGtoGtheGbeneficiary.
WhenGcanGaGtransferGofGbenefitsGoccur?G-GCORRECTGANSWERG-
WhenGtheGassignor,GorGownerGofGaGlifeGinsuranceGpolicy,GtransfersGtheGbenefitsGasGcollateral,Gensu
ringGaGdebtGisGpaid.
WhoGevaluatesGtheGapplicantGorGriskGthroughGtheGprocessGofGunderwritingGandGmakesGanGofferGof
Ginsurance?G-GCORRECTGANSWERG-TheGinsurerG(alsoGknownGasGtheGcompanyGorGcarrier).
WhyGmightGpeopleGbeGrequiredGtoGpurchaseGLifeGInsurance?G-GCORRECTGANSWERG-1G-
GRequirementGforGaGloan.