XCEL Solutions & Prometric Connecticut Life & Health Insurance Exam | Questions with 100% Correct Answers | Verified | Latest Update 2024

Laura added a children's rider to her life insurance policy. What type of coverage was added? - Level term With life insurance, the needs approach is used primarily in determining - How much life insurance a client should apply for A(n) __________ is a licensee who charges a fee for contracted insurance advisory services. - Consultant Jonas is covered with disability insurance through his employer. The employer pays 75% of the premium, while Jonas pays the other 25%. What is Jonas' tax liability for any benefits paid from the disability plan? - Taxes must be paid on 75% of the benefits received The Commissioner is empowered to perform each of the following acts EXCEPT - Makes rules that are consistent with those of neighboring states (Monitor insurer solvency, make rules and regulations that are consistent with the laws of CT, monitor insurer premium rates) How are the premiums for an individually-owned disability income policy treated for tax purposes? - Not tax-deductible at all Scott has a life insurance policy in which the dividends are left with the insurance company. This particular policy may be paid up when the cash value plus accumulated dividends - Equal the net single premium for the same face amount at the insured's attained age