- Study guides, Class notes & Summaries

What are the two main charges deducted monthly from a universal life policy? - Cost of insurance & Expenses Who are the two key individuals in a life insurance contract? - Policyholder and insurer Which feature(s) does universal life insurance have? - All of the above The primary purpose of state insurance regulation includes all of the following EXCEPT: - Got it wrong What Bankers Life products offer a no-lapse guarantee provision? - 19 Series (ClearVantage, Indexed UL) and 20 Series (Tur...

K failed to pay a renewal premium within the time granted by the insurer. K then sends in a payment which the insurer subsequently accepts. Which policy provision specifies that coverage may be restored in this situation? - ANSWER-Reinstatement All are true statements regarding the underwriting process, EXCEPT: - ANSWER-AIDS and HIV virus exams can be conducted in a discriminatory fashion M has an insurance policy that also has an outstanding policy loan at the time of M's death. The insu...

B the producer is scheduled for a retail hearing in a criminal prosecution. which of the following does not need to be submitted to the insurance commissioner prior to B's hearing - ANSWER-the posted bond K failed to pay a renewal premium within the time granted by the insurer. K then sends in a payment which the insurer subsequently accepts. Which policy provision specifies that coverage may be restored in this situation? - ANSWER-Reinstatement All are true statements regarding the under...