ARKANSAS LIFE INSURANCE EXAM 2024

ARKANSAS LIFE INSURANCE EXAM 2024 WITH 100% CORRECT ANSWERS A life insurance premium is paid each month. The insurer then subtracts a mortality and expense charge from the policy's cash value. This best describes which of the following life insurance policies? A. Whole Life B. Variable Whole Life C. Universal Life D. Adjustable Whole Life - correct answer C. Universal Life What is the name of a single policy covering two or more lives that pays benefits upon the death of the first insured? A. Accidental Death B. Joint Survivorship Life C. Joint Life D. Universal Life - correct answer C. Joint Life Which of the following is TRUE of a term rider when attached to a permanent life policy? A. It allows the policy to achieve paid up status at the end of the term. B. It can provide additional temporary coverage on the insured or on other members of the family. C. It always is in the amount of the base policy D. It only pays out a death benefit in cases of accidental death - correct answer B. It can provide additional temporary coverage on the insured or on other members of the family For those individuals who have health issues, which of the following would be an insurance plan to consider? A. Decreasing Term