Primerica Life Insurance Study guides, Class notes & Summaries

Primerica Life Insurance Test Review [100% Correct Answer] Q&A An insured purchased an insurance policy 5 years ago. Last year, she received a dividend check from the insurance company that was not taxable. This year, she did not receive a check from the insurer. From what type of insurer did the insured purchase the policy? *Ans* Mutual Which of the following is NOT a goal of risk retention? *Ans* To minimize the insured's level of liability in the event of loss Within how many da...

Primerica Life Insurance State Exam |Question and Answer| 100% Correct Deferred Annuity *Ans* An annuity in which the income payments begin sometime after one year from the date of red annuities can be funded with a single lump sum payment so it is referred to as a single premium differed annuities. Human life values approach *Ans* Calculates an individual's life value by looking at the insureds future wages,inflation,the number of years to retirement,and the time value of money. Wh...

Primerica Practice Test Part 1 [100% Correct] 2024 An insured under a life insurance policy has been diagnosed with a terminal illness and has 6 months to live. The insured knows that his financial state will worsen even more with the upcoming medical expenses. What option could the insured utilize? a) Estate liquidation b) Nonpayment of premium c) Change of beneficiary d) Viatical settlement *Ans* d Which of the following best describes fixed-period settlement option? a) Only the p...

Primerica Life Insurance Basic Exam |VERIFIED| 2024/2025 2 Signing and dating a delivery receipt for a life insurance policy helps to establish all of the following timeframes EXCEPT *Ans* The Grace Period. Joe, Larry, and Curly own a small business. They have made a legal arrangement which states that if one of them dies or becomes disabled, the other two will be able to buy the partner's shares. Which term best describes this arrangement? *Ans* Business Continuation The responsibi...

Primerica Exam Questions And Answers Fully Verified The type of policy that can be changed from one that does not accumulate cash value to the one that does is a - answerconvertible term policy The policy owner wants to make sure that upon his death, the life policy will pay a portion of the proceeds annually to his spouse, but that the principal will be paid to their children when they reach a certain age. What settlement option should the policy owner choose? - answerInterest only optio...

Primerica - Life Insurance Basics (AZ) Exam Questions With Verified Answers All of the following are duties and responsibilities of producers at the time of application EXCEPT A - Change any incorrect statement on the application by personally initialing next to the corrected statement. B - Explain the nature and type of any receipt the producer is giving to the applicant. C - Probe beyond the stated questions if the producer feels the applicant is misrepresenting or concealing informati...

Primerica. Life insurance Exam Questions With Verified Answers 401(k) plan - answerA qualified retirement plan in which the employee can set aside a portion of their income with pre-tax dollars. Absolute Assignment v. Collateral Assignment - answerAbsolute: A permanent and irrevocable transfer of rights and/or benefits by the policyowner. Collateral: A temporary and/or revocable transfer of benefits by the policyowner. Accelerated Death Benefit - answerPolicy provision that allows full or...

Primerica( life insurance policies ) Exam Questions With Verified Answers What happen to the cash value when a whole life insurance policy matures? - answerCash value is paid to the policy owner, what is the major difference between the most common types of whole life policies: straight life, limited payment and single premium? - answerpremium payment mode. what is the purpose of establishing the target premium for a universal life policy. - answerto prevent the policy from lapsing a who...

Primerica Life Insurance Focused Exam Questions With Verified Answers The paid-up addition option uses the dividend - answerTo purchase a smaller amount of the same type of insurance as the original policy. An applicant for insurance is requesting more information from her agent about a claim that is currently being settled. Within what time period must the agent respond? - answer15 days Which of the following is NOT a legitimate use of annuities by businesses? - answerCreating a tax shel...