Texas Life and Health Insurance Exam Latest Questions & Answers with Rationale 2023/2024

Texas Life and Health Insurance Exam Latest Questions & Answers with Rationale 2023/2024 All of these statements about Equity Indexed Life Insurance are correct EXCEPT Cash value has a minimum rate of accumulation If the gain on the index goes beyond the policy's minimum rate of return, the cash value will mirror that of the index The premiums can be lowered or raised, based on investment performance Tied to an equity index such as the S&P 500 The premiums can be lowered or raised, based on investment performance Which of these is an element of a Variable Life policy? A fixed, level premium What type of life insurance incorporates flexible premiums and an adjustable death benefit? Universal Life T would like to be assured $10,000 is available in 10 years to replace a roof on his house. What kind of $10,000 policy should T purchase? Ten-Year Endowment What type of life policy covers 2 lives and pays the face amount after the first one dies? Joint Life Policy Life insurance that covers an insured's whole life with level premiums paid over a limited time is called Limited-Pay Life What kind of life insurance product covers children under their parent's policy? Term rider Which is true concerning a Variable Universal Life policy? Policyowner controls where the investment will go and selects the amount of the premium payment Policyowner has no say where the investment will go but can choose the premium mode The investment vehicle for this type of policy is held in the insurer's general portfolio The death benefit can vary but the policyowner has no say in the premium amount paid