Primerica: Life insurance policies EXAM WITH 100% CORRECT ANSWERS 2025/ 2026

Primerica: Life insurance policies EXAM WITH 100% CORRECT ANSWERS 2025/ 2026 Insured buys a 5 year level premium term policy with a face amount of $10000. Policy also contains renewability and convertibility options. When insured renews in 5 years, what happens to the premium? -It will increase because the insured will be 5 years older than when the policy was originally issued. It will remain level during the term of the policy, but upon renewal it will be based on the insured's attained age. What makes whole life permanent protection? -coverage until death or until age 100 An insured has a policy that requires him to only pay premiums for a specified number of years until the policy is paid up. What kind of policy is it? -Limited Pay Life What distinguishes a group life from individual life policy? -reduced adverse selection. Group life requires a number of participants depending on the premium. A return of premium is referred to as what type of policy? -Increasing: pays an additional benefit to the beneficiary equal to death benefit plus premiums paid.