Kentucky life insurance Study guides, Class notes & Summaries
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2024 Life Insurance Exam for Kentucky Company Latest Questions and Answers
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2024 Life Insurance Exam for Kentucky 
Company Latest Questions and Answers 
A. All the incidents of ownership in the policy belong to the donee. - CORRECT 
ANSWER-In an outright gift of life insurance to a charity 
A. All the incidents of ownership in the policy belong to the donee. 
B. The donor retains the right to name a new beneficiary. 
C. The cash values in the policy belong to the donor. 
D. The premiums paid by the donor are not tax deductible. 
C. Making a formal request to the co...
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Kentucky Life Insurance Exam (New 2024/ 2025 Update) Questions and Verified Answers| 100 % Correct| Grade A
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Kentucky Life Insurance Exam (New 2024/ 
2025 Update) Questions and Verified 
Answers| 100 % Correct| Grade A 
 
QUESTION 
 The owner of a single premium deferred annuity is entitled to do all of these EXCEPT 
 
 
Answer: 
 Make multiple premium payments 
 
 
 
QUESTION 
 An insurance company's voluntary refusal to enforce a contract's provision is called a(n) 
 
 
Answer: 
 Waiver 
 
 
 
QUESTION 
 What happens when an initial offer is answered with a counteroffer? 
 
 
Answer: 
 Init...
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KENTUCKY LIFE INSURANCE STATE EXAM STUDYGUIDE 150 EXAM QUESTIONS AND CORRECT ANSWERS 2024-2025 ALREADY GRADED A+.
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KENTUCKY LIFE INSURANCE STATE EXAM STUDYGUIDE 150 EXAM QUESTIONS AND CORRECT ANSWERS ALREADY GRADED A+.
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Kentucky Life Insurance Exam Updated Questions and Answers 2024 New
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Kentucky Life Insurance Exam Updated 
Questions and Answers 2024 New 
Elements of a Contract - CORRECT ANSWER-Competent parties, legal purpose, offer 
and acceptance, consideration 
Waiver - CORRECT ANSWER-Voluntary giving up of a known right or privilege, can be 
express or implied 
Estoppel - CORRECT ANSWER-A person is prohibited by virtue of his own past actions 
from claiming a right that would work to the detriment of another who relied on the past 
conduct 
Aleatory Contract - CORRECT...
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Kentucky Life Insurance State Exam Practice with Certified Solutions
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Kentucky Life Insurance State Exam Practice with Certified Solutions 
The premiums paid by an employer for his employee's group life insurance are usually considered to be Tax-deductible to the employer 
Which of these is NOT considered to be a cost connected with an individual's death? Business expenses 
These are all accurate statements regarding universal life insurance EXCEPT Policy loans are not permitted 
Which of these is NOT relevant when determining the amount of personal life insuran...
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Kentucky Life Insurance State Exam Practice Questions with Certified Answers
- Exam (elaborations) • 16 pages • 2024
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Kentucky Life Insurance State Exam Practice Questions with Certified Answers 
The premiums paid by an employer for his employee's group life insurance are usually considered to be Tax-deductible to the employer 
Which of these is NOT considered to be a cost connected with an individual's death? Business expenses 
These are all accurate statements regarding universal life insurance EXCEPT Policy loans are not permitted 
Which of these is NOT relevant when determining the amount of personal life...
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Kentucky Life Insurance State Exam-with 100% verified solutions 2024-2025-tutor verified
- Exam (elaborations) • 16 pages • 2024
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Kentucky Life Insurance State Exam-with 100% verified solutions -tutor verified
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KENTUCKY LIFE INSURANCE STATE EXAM PRACTICE
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The premiums paid by an employer for his employee's group life insurance are usually considered to be - Answer-Tax-deductible to the employer 
 
Which of these is NOT considered to be a cost connected with an individual's death? - Answer-Business expenses 
 
These are all accurate statements regarding universal life insurance EXCEPT - Answer-Policy loans are not permitted 
 
Which of these is NOT relevant when determining the amount of personal life insurance needed? - Answer-Local unemploymen...
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Kentucky Life Insurance Exam Solved 100% Correct!!
- Exam (elaborations) • 16 pages • 2023
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Kentucky Life Insurance Exam Solved 100% Correct!! 
 
Elements of a Contract 
Competent parties, legal purpose, offer and acceptance, consideration 
Waiver 
Voluntary giving up of a known right or privilege, can be express or implied 
Estoppel 
A person is prohibited by virtue of his own past actions from claiming a right that would work to the detriment of another who relied on the past conduct 
Aleatory Contract 
a contract where the values exchanged may not be equal but depend on an uncertain...
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Kentucky Life Insurance Exam Already Rated A+
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Kentucky Life Insurance Exam Already Rated A+ 
4 Types of Life Insurance ️Permanent, Term, Industrial, Group 
Absolute, Voluntary, Complete Assignment ️Policy is given as a gift, policy owner has no means of 
recovering surrendered rights 
Accelerated Benefits Rider ️A life insurance rider that allows for the early payment of some portion of 
the policy's face amount should the insured suffer from a terminal illness or injury. 
Accidental Death Rider ️Provides for an additional am...
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