XCEL - NY - Exam Simulator 1 | Q&A Latest 2024/2025 | 100% PASS

XCEL - NY - Exam Simulator 1 | Q&A Latest 2024/2025 | 100% PASS Jonas is a whole life insurance policyowner and would like to add coverage for his two children. Which of the following products would allow him to accomplish this? - Answer -Child Term Rider Lisa has recently bought a fixed annuity. Which of these is considered to be a disadvantage of owning this type of annuity? - Answer -During periods of inflation, annuitants will experience a decrease in purchasing power of their payments. In contrast to a guaranteed renewable policy, a noncancellable policy - Answer -may never raise premiums What is implied authority defined as? - Answer -Authority that is not specifically given to an agent in the agency contract, but that an agent can reasonably assume to carry out his/her duties A disability income policy can prevent an insured fro