LA Life Insurance Series 101 EXAM 2025/2026ACTUAL
COMPLETE REAL EXAM TEST QUESTIONS & CORRECT
ANSWERS (A+ GRADED 100% VERIFIED) 2025 NEWEST !!
When the Life Insurance Policy's cash value equals the face
amount of the
policy and the proceeds are paid to the policyowner, this is
known as the policy's ___________. - ANSWER-Endowment
What is the only way an Annuity can pay out income tax free
benefit payments?
- ANSWER-Fund a Roth IRA and make a qualified
distribution.
What is the " waiver of premium" called on a Universal Life
Insurance policy? -
ANSWER-Waiver of Cost of
Insurance
Which of the following Term Life insurance policies cannot
be renewed? -
ANSWER-
Decreasing
,Most often, life policies pay death claims in a single lump sum.
The options that
allow benefits to be paid other than lump sum are called
_____________. -
ANSWER-Settlement
Options
Should an insured become totally and permanently disabled
two months before
the cut-off date for the waiver of premium rider: -
ANSWER-The Insured
remains eligible for all
provisions.
First to die and last to die Life Insurance policies have in
common all of the following, EXCEPT: - ANSWER-They both
continue in force after one of the named insureds dies.
Under Social Security, a worker needs 10 years of work to
be considered
_________ insured? -
ANSWER-Fully
, A married couple purchases a 250,000.00 Joint Life policy.
When the older of
the two dies, What is the amount payable to the
survivor? - ANSWER-
250,000.00
With a Life Income Payment Option, what happens at the
annuitant's death? -
ANSWER-All Payments
cease
Which of the following is the most expensive premium
mode overall? -
ANSWER-
Monthly
When an insurance company fails to enforce a provision in a
contract and decides to pay a claim, they are giving up a legal
right or advantage. This is known as which of the following? -
ANSWER-Waiver
ERISA (Employee Retirement Income Security Act) is a
____________ law. -
ANSWER-
Federal
COMPLETE REAL EXAM TEST QUESTIONS & CORRECT
ANSWERS (A+ GRADED 100% VERIFIED) 2025 NEWEST !!
When the Life Insurance Policy's cash value equals the face
amount of the
policy and the proceeds are paid to the policyowner, this is
known as the policy's ___________. - ANSWER-Endowment
What is the only way an Annuity can pay out income tax free
benefit payments?
- ANSWER-Fund a Roth IRA and make a qualified
distribution.
What is the " waiver of premium" called on a Universal Life
Insurance policy? -
ANSWER-Waiver of Cost of
Insurance
Which of the following Term Life insurance policies cannot
be renewed? -
ANSWER-
Decreasing
,Most often, life policies pay death claims in a single lump sum.
The options that
allow benefits to be paid other than lump sum are called
_____________. -
ANSWER-Settlement
Options
Should an insured become totally and permanently disabled
two months before
the cut-off date for the waiver of premium rider: -
ANSWER-The Insured
remains eligible for all
provisions.
First to die and last to die Life Insurance policies have in
common all of the following, EXCEPT: - ANSWER-They both
continue in force after one of the named insureds dies.
Under Social Security, a worker needs 10 years of work to
be considered
_________ insured? -
ANSWER-Fully
, A married couple purchases a 250,000.00 Joint Life policy.
When the older of
the two dies, What is the amount payable to the
survivor? - ANSWER-
250,000.00
With a Life Income Payment Option, what happens at the
annuitant's death? -
ANSWER-All Payments
cease
Which of the following is the most expensive premium
mode overall? -
ANSWER-
Monthly
When an insurance company fails to enforce a provision in a
contract and decides to pay a claim, they are giving up a legal
right or advantage. This is known as which of the following? -
ANSWER-Waiver
ERISA (Employee Retirement Income Security Act) is a
____________ law. -
ANSWER-
Federal
