wrong answer 3 – Flashcards
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Admitted
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Which of the following is the closet term to an authorized insurer
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3 days
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if a consumer requests additional information concerning an investigative consumer report, how long does the insurer or reporting agency have to comply
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policy summary
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What descibes the specific information about a policy
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When the application is signed and a check is given to the agent
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When is the earliest a policy may go into effect
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Level fixed
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Vaiable lfie insurance is based on what kinds premium
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Limited-pay life
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an insured has a life insurance policy that requires him to only pay premiums for a spcified number of years until the policy is paid up. What kind of policy is it
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Universal life
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Which type of life insurance policy allows the policyowner to pay more or less than the planned premium
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the planned premium pays for mortality charges and expenses and any excess is returned to the policyower
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all of the following are characteristics of a universal life policy Except
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Life paid up at age 65
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Which of the following is an example of a limited-pay policy
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Extended term
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Which nonforfeiture option has the highest amount of insurance protection
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collateral assignment
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An individual borrowed money at the bank to send his daughter to college. Instead of purchasing Credit life insurance, he used an existing life insurance policy to secure the debt. This would be called a
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Amount paid with teh accelerated benefit, plus the earnigns lost by the insurance company in interest income from teh accelerated benefit
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While of the following would be deducted from the death benefit paid to a beneficiary, if a partial accelerated death benefit had been paid while the insured was still alive
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Income for 2 or more recipients until they die
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Life income joint and survivor settlement option guarantees
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A copy of the original application for insurance
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According to the Entire Contract provision, a policy must contain
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that the cash value will not be lost
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Nonforfeiture values guarantee which of the following for a policyower
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term
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Childrens riders attached to whole life policies are usually issued at what type of insurance
