Delaware Life Producer EXAM QUESTIONS AND
VERIFIED CORRECT ANSWERS LATEST 2026-2027 NEW
VERSION
What statement is assured to be true in every aspect? - answer>>>Warranty is
considered guaranteed to be true
The life insurance and annuity replacement regulation defines replacement as -
answer>>>exchanging an existing policy for a new policy
What is the MAXIMUM Social Security Disability benefit amount an insured can
receive? - answer>>>100% of the insured's Primary Insurance Amount (PIA)
What is consistent about Straight Life policy? - answer>>>Premiums are payable as
long as there is insurance coverage in force
C is the policyowner of a Comprehensive individual Major Medical policy. C pays an
annual premium which is due September 1. If C forgets to pay the premium and is
hospitalized September 10, how will the insurer handle this claim? - answer>>>Pay
the claim in full minus the premium due
N, age 50, recently bought an annuity that will pay a guaranteed $2,000/month at
age 70 for life. What type of annuity did N purchase? - answer>>>Fixed Deferred
With Optionally Renewable Health policies, the insurer may - answer>>>review the
policy annually and determine whether or not to renew it
What is a true statement about Credit Life insurance? - answer>>>An individual may
use existing coverage already in effect by assigning benefits to the lender
, -
Which of the following does Social Security NOT provide benefits for? -
answer>>>Dismemberment... SS does provide benefits for survivorship, disability,
and retirement.
Under a Graded Premium policy, the premiums - answer>>>are lower during the
policy's early years
What will a Long Term Care plan typically provide benefits for? - answer>>>home
health care
W is a 39-year old female who just purchased an annuity to provide income for life
starting at age 60. All of these would be acceptable annuity choices EXCEPT a(n) -
answer>>>Immediate annuity, which starts providing income payments within the
first 30 days from the purchase date.
The incontestable clause allows an insurer to - answer>>>contest a claim during the
Contestable Period
Which contract permits the remaining partners to buy-out the interest of a disabled
business partner? - answer>>>Disability Buy-Sell
All students attending a large university could be covered by - answer>>>A blanket
policy, which is issued to cover a group who may be exposed to the same risks, but
the composition of the group (the individuals) is changing
A term life insurance policy matures: - answer>>>upon the insured's death during
the term of the policy
,An individual Disability Income insurance applicant may be required to submit all of
the following information, EXCEPT - answer>>>spouse's income... however, medical
history, gross income, and occupation is necessary for the application
What individual would require continuing education in Delaware? -
answer>>>Resident producer
What best describes a short-term medical expense policy? -
answer>>>Nonrenewable
What action will an insurance company most likely NOT take if an applicant, who has
diabetes, applies for a Disability Income policy? - answer>>>Issue the policy with an
altered Time of Payment of Claims provision... but an insurance company can issue
the policy with a diabetes exclusion, issue the policy with a rating, or decline the
applicant.
The part of a life insurance policy guaranteed to be true is called a(n) -
answer>>>warranty
K has a health policy that must be renewed by the insurer and the premiums can
only be increased if applied to the entire class of insureds. This type of policy is
considered - answer>>>guaranteed renewable
A(n) _ option is a method of disturbing a Life Insurance policy's death benefit OTHER
than by a lump sum payment. - answer>>>settlement
T applied for a Disability Income policy and has a history of back injuries. The insurer
issued the policy with a statement that excludes coverage for back injuries. This
statement is called a(n) - answer>>>Impairment rider, which excludes coverage for
specific injuries or conditions
, -
K becomes ill after traveling overseas and is unable to work for 3 months. What kind
of policy would cover her loss of income? - answer>>>Disability Income, which
would reimburse an insured for loss of earnings if the insured became sick.
A Disability Income policy that only the policyowner can terminate and which the
rates will never go up is considered to be - answer>>>Noncancellable
Which of the following actions may NOT be taken by an insurance company to
insure a substandard applicant for disability income coverage? - answer>>>Lengthen
the contestability period... but the insurer may legally increase the premium, limit
the type of coverage, and not cover the substandard condition.
Before a life policy is issued, what contract is necessary? - answer>>>A signed
application by the prospect
In a Key Employee life insurance policy, the third-party owner can be all of the
following EXCEPT - answer>>>insured... but a third-party owner can be an applicant,
an owner, and a payor.
What does a noncontributory employee group life insurance plan require? -
answer>>>ALL employees must be covered
Which provision prevents an insurer from changing the terms of the contract with
the policyowner by referring to documents not found within the policy itself? -
answer>>>Entire Contract Provision states that the policy document, the
application, and any attached riders constitute the contract. Nothing may be
"incorporated by reference," meaning that the policy cannot refer to any outside
documents as being part of the contract.
VERIFIED CORRECT ANSWERS LATEST 2026-2027 NEW
VERSION
What statement is assured to be true in every aspect? - answer>>>Warranty is
considered guaranteed to be true
The life insurance and annuity replacement regulation defines replacement as -
answer>>>exchanging an existing policy for a new policy
What is the MAXIMUM Social Security Disability benefit amount an insured can
receive? - answer>>>100% of the insured's Primary Insurance Amount (PIA)
What is consistent about Straight Life policy? - answer>>>Premiums are payable as
long as there is insurance coverage in force
C is the policyowner of a Comprehensive individual Major Medical policy. C pays an
annual premium which is due September 1. If C forgets to pay the premium and is
hospitalized September 10, how will the insurer handle this claim? - answer>>>Pay
the claim in full minus the premium due
N, age 50, recently bought an annuity that will pay a guaranteed $2,000/month at
age 70 for life. What type of annuity did N purchase? - answer>>>Fixed Deferred
With Optionally Renewable Health policies, the insurer may - answer>>>review the
policy annually and determine whether or not to renew it
What is a true statement about Credit Life insurance? - answer>>>An individual may
use existing coverage already in effect by assigning benefits to the lender
, -
Which of the following does Social Security NOT provide benefits for? -
answer>>>Dismemberment... SS does provide benefits for survivorship, disability,
and retirement.
Under a Graded Premium policy, the premiums - answer>>>are lower during the
policy's early years
What will a Long Term Care plan typically provide benefits for? - answer>>>home
health care
W is a 39-year old female who just purchased an annuity to provide income for life
starting at age 60. All of these would be acceptable annuity choices EXCEPT a(n) -
answer>>>Immediate annuity, which starts providing income payments within the
first 30 days from the purchase date.
The incontestable clause allows an insurer to - answer>>>contest a claim during the
Contestable Period
Which contract permits the remaining partners to buy-out the interest of a disabled
business partner? - answer>>>Disability Buy-Sell
All students attending a large university could be covered by - answer>>>A blanket
policy, which is issued to cover a group who may be exposed to the same risks, but
the composition of the group (the individuals) is changing
A term life insurance policy matures: - answer>>>upon the insured's death during
the term of the policy
,An individual Disability Income insurance applicant may be required to submit all of
the following information, EXCEPT - answer>>>spouse's income... however, medical
history, gross income, and occupation is necessary for the application
What individual would require continuing education in Delaware? -
answer>>>Resident producer
What best describes a short-term medical expense policy? -
answer>>>Nonrenewable
What action will an insurance company most likely NOT take if an applicant, who has
diabetes, applies for a Disability Income policy? - answer>>>Issue the policy with an
altered Time of Payment of Claims provision... but an insurance company can issue
the policy with a diabetes exclusion, issue the policy with a rating, or decline the
applicant.
The part of a life insurance policy guaranteed to be true is called a(n) -
answer>>>warranty
K has a health policy that must be renewed by the insurer and the premiums can
only be increased if applied to the entire class of insureds. This type of policy is
considered - answer>>>guaranteed renewable
A(n) _ option is a method of disturbing a Life Insurance policy's death benefit OTHER
than by a lump sum payment. - answer>>>settlement
T applied for a Disability Income policy and has a history of back injuries. The insurer
issued the policy with a statement that excludes coverage for back injuries. This
statement is called a(n) - answer>>>Impairment rider, which excludes coverage for
specific injuries or conditions
, -
K becomes ill after traveling overseas and is unable to work for 3 months. What kind
of policy would cover her loss of income? - answer>>>Disability Income, which
would reimburse an insured for loss of earnings if the insured became sick.
A Disability Income policy that only the policyowner can terminate and which the
rates will never go up is considered to be - answer>>>Noncancellable
Which of the following actions may NOT be taken by an insurance company to
insure a substandard applicant for disability income coverage? - answer>>>Lengthen
the contestability period... but the insurer may legally increase the premium, limit
the type of coverage, and not cover the substandard condition.
Before a life policy is issued, what contract is necessary? - answer>>>A signed
application by the prospect
In a Key Employee life insurance policy, the third-party owner can be all of the
following EXCEPT - answer>>>insured... but a third-party owner can be an applicant,
an owner, and a payor.
What does a noncontributory employee group life insurance plan require? -
answer>>>ALL employees must be covered
Which provision prevents an insurer from changing the terms of the contract with
the policyowner by referring to documents not found within the policy itself? -
answer>>>Entire Contract Provision states that the policy document, the
application, and any attached riders constitute the contract. Nothing may be
"incorporated by reference," meaning that the policy cannot refer to any outside
documents as being part of the contract.
