Missouri Life Insurance Exam 2026
Questions and Answers 100% Pass
Guaranteed
Term life - Correct answer-Insurance provides pure death protection since it only
pays a death benefit if the insured dies during the policy term. Term life insurance
does not accrue cash value
Whole life - Correct answer-Insurance provides death benefits for the entire life of
the insured. It also provides living benefits in the form of cash values. It matures at
age 100
Group life - Correct answer-Coverage is provided to the members of the group
under the master contract. The group is written as a whole, not on each individual
member. One of the benefits of group life coverage is there usually is no evidence
of insurability required.
Level term - Correct answer-Also called level premium level term, has a level face
amount and level premiums. Premiums tend to be higher than annual renewable
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, term because they are level throughout the policy period. However, the premiums
will increase at each renewal.
Decreasing term - Correct answer-Term life insurance that provides a decreasing
face amount overtime with six premiums. These policies are usually use for
mortgage protection
Increasing term - Correct answer-Term life insurance that provides an increasing
base of Mount overtime based on specific amounts or a percentage of the original
face amount.
Convertible term - Correct answer-A term life policy that allows policy owners to
convert their term insurance into permanat policy without showing proof of
insurability.
Renewable term - Correct answer-A feature of term insurance allows the policy
owner to renew that coverage after the designated term expires without having to
prove insurability
Annual renewable term - Correct answer-Term coverage that provides a level face
amount that renews annually. This type of coverage is guaranteed renewable
annually without proof of insurability
©COPYRIGHT 2025, ALL RIGHTS RESERVE 2
Questions and Answers 100% Pass
Guaranteed
Term life - Correct answer-Insurance provides pure death protection since it only
pays a death benefit if the insured dies during the policy term. Term life insurance
does not accrue cash value
Whole life - Correct answer-Insurance provides death benefits for the entire life of
the insured. It also provides living benefits in the form of cash values. It matures at
age 100
Group life - Correct answer-Coverage is provided to the members of the group
under the master contract. The group is written as a whole, not on each individual
member. One of the benefits of group life coverage is there usually is no evidence
of insurability required.
Level term - Correct answer-Also called level premium level term, has a level face
amount and level premiums. Premiums tend to be higher than annual renewable
©COPYRIGHT 2025, ALL RIGHTS RESERVE 1
, term because they are level throughout the policy period. However, the premiums
will increase at each renewal.
Decreasing term - Correct answer-Term life insurance that provides a decreasing
face amount overtime with six premiums. These policies are usually use for
mortgage protection
Increasing term - Correct answer-Term life insurance that provides an increasing
base of Mount overtime based on specific amounts or a percentage of the original
face amount.
Convertible term - Correct answer-A term life policy that allows policy owners to
convert their term insurance into permanat policy without showing proof of
insurability.
Renewable term - Correct answer-A feature of term insurance allows the policy
owner to renew that coverage after the designated term expires without having to
prove insurability
Annual renewable term - Correct answer-Term coverage that provides a level face
amount that renews annually. This type of coverage is guaranteed renewable
annually without proof of insurability
©COPYRIGHT 2025, ALL RIGHTS RESERVE 2
