Nonforfeiture options Study guides, Class notes & Summaries

Xcel Life Policies Exam Which type of multiple protection policy pays on the death of the last person? A. Joint Life Policy B. Dual Life Policy C. Multiple Life Policy D. Survivorship Life Policy - D. Survivorship Life Policy A policy owner may change two policy features on what type of life insurance? A. Adjustable Life B. Modified Whole Life C. Decreasing Term Life D. Whole Life - A. Adjustable Life Adjustable Life allows the policyowner to change two policy features: prem...

IDAHO Life Insurance Exam questions and answers already passed Which of the following statements describes one of the reasons individuals purchase life insurance? 2. It creates an immediate estate. How long is the grace period for an individual life insurance policy? 1 month In this state the owner gets a "free look" of a specified number of days from Delivery of the policy Which of the following would be likely to establish a SEP? Smalls employers If a soliciting producer ...

PearsonVue Life Insurance Practice Exam LATEST ACTUAL EXAM QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+ If an Adjustable Life policyowner makes an additional premium payment, the policy may be affected in all of the following ways EXCEPT the: - CORRECT ANSWER value of the Nonforfeiture Options may decrease At which of the following times MUST a life insurance applicant be informed of their rights under the Fair Credit Reporting Act? - CORRECT ...

1 OHIO LIFE INSURANCE EXAM REVIEW QUESTIONS AND ANSWERS, 100% ACCURATE/ A life insurance company has transferred some of its risk to another insure. The insurer assuming the risk is called - - all of the following are examples of business continuation plan except - -Deffered Compensation All of these are valid options for an Adjustable Life Policy EXCEPT The policy's premium can be increased or decreased The policy's death benefit can be increased or decreased A nonforfeiture option ...

XCel 2-15 Florida Life & Health State Exam simulator Questions and Answers Latest. what is considered to be a characteristic of an immediate annuity benefit payments start within one payment period of purchase 3 MULTIPLE CHOICE OPTIONS which of these characteristics is consistent with a straight life policy premiums are payable for as long as there is insurance coverage in force 3 MULTIPLE CHOICE OPTIONS an insureds inability to perform two or more activities of daily living may trigger w...

SC life insurance exam study set Exam Questions And Answers All Correct And Verified An insurer will accept a premium from the insured and continue their coverage in full force as though it was NOT late during which time period? Incontestable period Probation period Reinstatement period Grace period - ANS Grace period A person who is a nonsmoker, of average weight, and in excellent health would most likely be in which risk classification? Standard Substandard Acceptabl...

What nonforfeiture option is automatically selected by the company if not chosen by the policyowner? correct answer: Extended term Is the beneficiary required to have insurable interest in the insured? correct answer: No. beneficiaries do not have insurable interest in the insured What dividend option is automatically selected by the company if not chosen by the policyowner? correct answer: Paid-up additions If a settlement option is not chosen by the policy owner or the beneficiary,...

Life Insurance Exam questions IDAHOWhich of the following statements describes one of the reasons individuals purchase life insurance? - correct answer 2. It creates an immediate estate. How long is the grace period for an individual life insurance policy? - correct answer 1 month In this state the owner gets a "free look" of a specified number of days from - correct answer Delivery of the policy Which of the following would be likely to establish a SEP? - correct answer Smalls employ...

Under a traditional IRA, interest is taxed: Only if withdrawn prior to age 59 1/2 According to the capital gains rate Upon distribution During the accumulation phase - ANSWER-Upon distribution Which of these statements concerning Traditional IRAs is CORRECT? Earnings are not taxable when withdrawn Earnings are taxable when withdrawn Contribution are never tax deductible Contributions are always made by the employer - ANSWER-Earnings are taxable when withdrawn Wh...

PSI 200 Life Health Accident Exam Questions and Answers Nonforfeiture Options - CORRECT ANSWER-cash value, reduced paid-up insurance, extended term insurance Cash Value - CORRECT ANSWER-the amount of money a whole life policyholder would receive if the policy were surrendered before death or maturity Reduced Paid-Up - CORRECT ANSWER-The amount of equity (ownership) or cash accumulation in a permanent life insurance policy. Extended Term - CORRECT ANSWER-A nonforfeiture option that all...