XCEL solutions questions with correct answers

A partial surrender is allowed in which of the following life policies? CORRECT ANS Universal life All of the following riders can increase the death benefit amount EXCEPT CORRECT ANS Waiver of Premium A health insurance policy where the insurer has the right to terminate the policy for reasons other than the insureds health is called CORRECT ANS Conditionally Renewable A proposed insured for a health insurance policy was treated for heart disease within the past year. When applying for health insurance, the heart disease treatment CORRECT ANS Indicates a preexisting condition How do interest earnings accumulate in a deferred annuity CORRECT ANS On a tax-deferred basis Which of the following statements is NOT true regarding a Critical Illness Plan CORRECT ANS Coverage is limited to a single devastating disease Which of these is a TRUE statement regarding HIC's CORRECT ANS HIC's operate on a prepayment basis James is insured on a life insurance policy where his age was misstated on the application. Which of the following is CORRECT regarding the death benefit amount? CORRECT ANS The death benefit paid will be what the premium would have purchased at the correct age How son can the benefit payments begin with a deferred annuity? CORRECT ANS A minimum of 12 months after date of purchase