NJ LIFE FINAL EXAM

Which of these is a method of determining the level of funds required for ongoing support in the event of the breadwinner's death? Financial loss value Human life value Assessment value Replacement value - Answer- Human life value The Guaranty Association Act provides that when a Court Order of Liquidation exists, the insurer - Answer- Is insolvent An individual most likely will have an insurable interest in insuring a person's life if - Answer- An economic interest exists for the continuance of the insured's life An error was made on Mary's life insurance application. Which of the following areas are errors commonly made on applications for which the incontestable clause does NOT apply? Marital status Age Address Income - Answer- Age Before conducting an HIV related test, an insurer is REQUIRED to obtain written authorization from the - Answer- Proposed insured O