Missouri Life and Health Insurance Final Exam with Complete Solutions

Missouri Life and Health Insurance Final Exam with Complete Solutions Whose interest is being protected by the enactment of " The Replacement of Life Insurance and Annuities" regulation? ️️policyowner Q applied for life insurance and submitted the initial premium on January 1. The policy was issued February 1, but it was not delivered by the agent until February 7. Q is dissatisfied and returns the policy February 13. How will the insurer handle this situation? ️️policy was returned with the "free look" period, premium will be fully refunded Which of the following policies is characterized by a flexible premium and death benefit and allows policyowner control of the investment aspect of the plan? ️️variable universal life Which statement regarding third party ownership of a life insurance policy is true? ️️it is used extensively in estate planning as well as business circumstances P is an employee who quits her job and wants to convert her group health coverage to an individual policy. After the expiration of COBRA laws, which of the following statements is TRUE? ️️She DOES need to provide evidence of insurability