California Life, Accident, and Health Insurance Questions and Answers 2024 (Verified)

California Life, Accident, and Health Insurance California Life, Accident, and Health Insurance CalifoCalifornia Life, Accident, and Health Insurance 1. Which of the following are common personal uses for life insurance : Estate planning, Cash accumulation, Protection of survivors 2. Which of the following is a characteristic of an interest sensitive whole life policy : Flexible premiums, Guaranteed minimum death benefit, Guaranteed minimum rate of return. 3. What type of policy provides coverage for life, but the premiums are not due beyond age 65, has guaranteed premium, accumulates cash value and the coverage will never decrease : A limited pay life policy 4. Under the PPACA, the shared responsibility payment is assessed on what basis Monthly 5. Which of the following statements is true about conditions to reinstate a lapsed life insurance policy The policy has been expired no more than 3 years 6. An insurance company whose main responsibility is to make money for its policyholders is called a Mutual insurance company 7. How does the California Insurance Code define an insurance contract A legal agreement made between an insurance company and an individual 8. An individual disability policy will be characterized in all of the following ways : The benefit is a stated dollar amount based on a percentage of income per month. The premium is established by the insured's occupation and health status The company may be able to increase premiums Disability benefits are required to be paid no less than monthly.. 9. Which of the following nonforfeiture options permits the policyowner to use the cash values to purchase paid-up term life insurance coverage Ex- tended term 10. Which of the following statements is true about the Guaranteed Insurabil- ity rider The policy will provide specific dates on which additional life insurance policies can be bought. rnia Life, Accident, and Health Insurance