DELAWARE LIFE INSURANCE ACTUAL
LATEST EXAM 2025/2026 WITH PREP
QUESTIONS AND VERIFIED CORRECT
ANSWERS | ALREADY GRADED A+ |
GUARANTEED PASS | DELAWARE LIFE
INSURANCE 2025/2026 [BRAND NEW]
What is the benefit of choosing extended term as a nonforfeiture option? -
ANSWER-It has the highest amount of insurance protection
Upon the death of the insured, the primary beneficiary discovers that the insured
chose the interest only settlement option. What does this mean? - ANSWER-The
beneficiary will only receive payments of the interest earned on the death benefit
If a life insurance policy has an irrevocable beneficiary designation, - ANSWER-
the beneficiary can only be changed with written permission of the beneficiary
If the annuitant dies during the accumulation period, who will receive the annuity
benefits? - ANSWER-beneficiary
contracts that are prepared by one party and submitted to the other party on a take-
it-or-leave it basis are classified as - ANSWER-contracts of adhesion
,If a beneficiary wants a guarantee that benefits paid from principal and interest
would be paid for a period of 10 years before being exhausted, what settlement
option should the beneficiary select? - ANSWER-fixed period
if a policy includes a free-look period of at least 10 days, the buyer's guide may be
delivered to the applicant - ANSWER-with the policy
which of the following is a generic consumer publication that explains life
insurance in general terms in order to assist the applicant in the decision making
process? - ANSWER-Buyer's guide
which of the following is a licensee of the department who offers advice, counsel,
opinion, or service regarding benefits, advantages or disadvantages to be obtained
under any contract of insurance issued in this state - ANSWER-consultant
Insurance is a contract by which one seeks to protect another from - ANSWER-
loss
The provision which states that both the policy and a copy of the application form
the contract between the policyowner and the insurer is called the - ANSWER-
entire contract
Under which of the following circumstances would an insurer pay accelerated
benefits? - ANSWER-an insured is diagnosed with cancer and needs help paying
for her medical treatment
which of the following is NOT true of life settlements - ANSWER-the seller must
be terminally ill
, An insured owns a $50,000 whole life policy. At age 47, the insured decides to
cancel his policy and exercise the extended term option for the policy's cash value,
which is currently $20,000. What would be the face amount of the new term
policy? - ANSWER-$50,000
a rider attached to a life insurance policy that provides coverage on the insured's
family member is called the - ANSWER-other-insured rider
Which of the following terms means a result of calculation based on the average
number of months the insured is projected to live due to medical history and
mortality factors - ANSWER-life expectancy
Which is NOT true about beneficiary designations? - ANSWER-The beneficiary
must have insurable interest in the insured.
which of the following is true regarding taxation of dividends in participating
policies? - ANSWER-dividends are not taxable
An insured will be allowed to reactivate her lapsed life insurance policy if action is
taken within a certain period of time, and proof of insurability is provided. Which
policy provision allows this? - ANSWER-reinstatement provision
Which of the following allows the insurer to relieve a minor insured from premium
payments if the minor's parent have died or become disabled? - ANSWER-payor
benefit
The policyowner wants to make sure that upon his death, the life policy will pay a
portion of the proceeds annually to his spouse, but that the principal will be paid to
their children when they reach a certain age. Which settlement option should the
policyowner choose? - ANSWER-interest only option
LATEST EXAM 2025/2026 WITH PREP
QUESTIONS AND VERIFIED CORRECT
ANSWERS | ALREADY GRADED A+ |
GUARANTEED PASS | DELAWARE LIFE
INSURANCE 2025/2026 [BRAND NEW]
What is the benefit of choosing extended term as a nonforfeiture option? -
ANSWER-It has the highest amount of insurance protection
Upon the death of the insured, the primary beneficiary discovers that the insured
chose the interest only settlement option. What does this mean? - ANSWER-The
beneficiary will only receive payments of the interest earned on the death benefit
If a life insurance policy has an irrevocable beneficiary designation, - ANSWER-
the beneficiary can only be changed with written permission of the beneficiary
If the annuitant dies during the accumulation period, who will receive the annuity
benefits? - ANSWER-beneficiary
contracts that are prepared by one party and submitted to the other party on a take-
it-or-leave it basis are classified as - ANSWER-contracts of adhesion
,If a beneficiary wants a guarantee that benefits paid from principal and interest
would be paid for a period of 10 years before being exhausted, what settlement
option should the beneficiary select? - ANSWER-fixed period
if a policy includes a free-look period of at least 10 days, the buyer's guide may be
delivered to the applicant - ANSWER-with the policy
which of the following is a generic consumer publication that explains life
insurance in general terms in order to assist the applicant in the decision making
process? - ANSWER-Buyer's guide
which of the following is a licensee of the department who offers advice, counsel,
opinion, or service regarding benefits, advantages or disadvantages to be obtained
under any contract of insurance issued in this state - ANSWER-consultant
Insurance is a contract by which one seeks to protect another from - ANSWER-
loss
The provision which states that both the policy and a copy of the application form
the contract between the policyowner and the insurer is called the - ANSWER-
entire contract
Under which of the following circumstances would an insurer pay accelerated
benefits? - ANSWER-an insured is diagnosed with cancer and needs help paying
for her medical treatment
which of the following is NOT true of life settlements - ANSWER-the seller must
be terminally ill
, An insured owns a $50,000 whole life policy. At age 47, the insured decides to
cancel his policy and exercise the extended term option for the policy's cash value,
which is currently $20,000. What would be the face amount of the new term
policy? - ANSWER-$50,000
a rider attached to a life insurance policy that provides coverage on the insured's
family member is called the - ANSWER-other-insured rider
Which of the following terms means a result of calculation based on the average
number of months the insured is projected to live due to medical history and
mortality factors - ANSWER-life expectancy
Which is NOT true about beneficiary designations? - ANSWER-The beneficiary
must have insurable interest in the insured.
which of the following is true regarding taxation of dividends in participating
policies? - ANSWER-dividends are not taxable
An insured will be allowed to reactivate her lapsed life insurance policy if action is
taken within a certain period of time, and proof of insurability is provided. Which
policy provision allows this? - ANSWER-reinstatement provision
Which of the following allows the insurer to relieve a minor insured from premium
payments if the minor's parent have died or become disabled? - ANSWER-payor
benefit
The policyowner wants to make sure that upon his death, the life policy will pay a
portion of the proceeds annually to his spouse, but that the principal will be paid to
their children when they reach a certain age. Which settlement option should the
policyowner choose? - ANSWER-interest only option
