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What is the benefit of choosing extended term as a nonforfeiture option? - correct answer It has the highest amount of insurance protection Upon the death of the insured, the primary beneficiary discovers that the insured chose the interest only settlement option. What does this mean? - correct answer The beneficiary will only receive payments of the interest earned on the death benefit If a life insurance policy has an irrevocable beneficiary designation, - correct answer the beneficiary ...

Delaware Life Insurance Exam Terms!!!

Delaware Life Insurance Exam Questions and Answers 100% Pass What is the benefit of choosing extended term as a nonforfeiture option? - Correct Answer ️️ -It has the highest amount of insurance protection Upon the death of the insured, the primary beneficiary discovers that the insured chose the interest only settlement option. What does this mean? - Correct Answer ️️ -The beneficiary will only receive payments of the interest earned on the death benefit If a life insurance policy...

Delaware Life Insurance Practice Exam Questions and Answers 2024 P wants to name her husband as the beneficiary of her life policy. However, she wishes to retain all of the rights of ownership. P should have her husband named as the: A.irrevocable beneficiary B.revocable beneficiary C.secondary beneficiary - CORRECT ANSWER-B A contract that has as its basic function the systematic liquidation of accumulated assets through periodic payments is called an: A.indemnity contract B.investm...

2024 Life Insurance License Exam (Delaware) Actual Questions and Answers Accelerated Benefits - CORRECT ANSWER-Riders attached to life insurance policies that allow death benefits to be used to cover nursing or convalescent home expenses. Accidental Death Benefits - CORRECT ANSWER-A policy rider that states that the cause of death will be analyzed to determine if it complies with the policy description of accidental death. Accidental Death Insurance - CORRECT ANSWER-An insurance pol...

Delaware Life Insurance Study Guide 2024 Questions and Answers What is the benefit of choosing extended term as a nonforfeiture option? - CORRECT ANSWER-It has the highest amount of insurance protection Upon the death of the insured, the primary beneficiary discovers that the insured chose the interest only settlement option. What does this mean? - CORRECT ANSWER-The beneficiary will only receive payments of the interest earned on the death benefit If a life insurance policy has an irr...

Delaware Life Insurance Practice Exam Questions with 100% Verified Answers Insurable Receipt - CORRECT ANSWER-The reciept given to a life insurance applicant when the application is completed and the initial premium is received is called a(n) Representations - CORRECT ANSWER-Statements in the application for insurance that are believed to be true to the best of the applicants knowledge are Provide the annuitant with an interest rate that is lesser of the guaranteed or current rate - CO...

Delaware Life Insurance Company Questions and Answers 2024 Insurance Policy - CORRECT ANSWER-A contract between a policyowner (and/or insured) and an insurance company which agrees to pay the insured or the beneficiary for loss caused by specific events Insured - CORRECT ANSWER-Person covered by the insurance policy; may or may not be the policyowner Insurer (Principal) - CORRECT ANSWER-The company who issues an insurance policy Lapse - CORRECT ANSWER-Policy termination due to nonpay...

Delaware Life Producer Insurance Exam with Correct Answers 2024 A(n) _ may also perform the duties of a consultant. - CORRECT ANSWER-producer What is an example of a producer's implied authority? - CORRECT ANSWER-Collecting premiums The Commissioner may suspend or revoke a producer's license for - CORRECT ANSWER-keeping premiums owed to the insurer An insurer is charged _ for submitting an application for a certificate of authority in Delaware. - CORRECT ANSWER-$700 In Delaware, an...

Delaware Life Insurance Exam Terms (Questions and Answers) 2024 Accelerated Benefits - CORRECT ANSWER-Riders attached to life insurance policies which allow death benefits to be used to cover nursing home expenses or convalescent home expenses Accidental Death Benefits - CORRECT ANSWER-A policy rider that states that the cause of death will be analyzed to determine if it complies with the policy description of accidental death Accidental Death Insurance - CORRECT ANSWER-An insurance ...

Delaware Life Insurance Practice Exam Questions and Answers 2024 P wants to name her husband as the beneficiary of her life policy. However, she wishes to retain all of the rights of ownership. P should have her husband named as the: A.irrevocable beneficiary B.revocable beneficiary C.secondary beneficiary - CORRECT ANSWER-B A contract that has as its basic function the systematic liquidation of accumulated assets through periodic payments is called an: A.indemnity contract B.investm...

Delaware Life Insurance Study Guide 2024 Questions and Answers What is the benefit of choosing extended term as a nonforfeiture option? - CORRECT ANSWER-It has the highest amount of insurance protection Upon the death of the insured, the primary beneficiary discovers that the insured chose the interest only settlement option. What does this mean? - CORRECT ANSWER-The beneficiary will only receive payments of the interest earned on the death benefit If a life insurance policy has an irr...