Insurance

The insured under a $100,000 life insurance policy with a triple indemnity rider for accidental death was killed in a car accident. It was determined that the accident was his fault. The triple indemnity rider in the policy specifies that the death must not be contributing did by the insured in any manner, in this case, what will the policy beneficiary receive

$100,000

The accelerated benefits provision will provide for an early payment of the death benefit when the insured

Becomes terminally ill

According to the entire contract provision, what document must be made part of the insurance policy?

Copy of the original application

Which of the following is not typically excluded from life policies?

Death due to plane crashes for a farepaying passenger

Which rider, when attached to a permanent life insurance policy, provides an amount of insurance on every family member?

Family term rider

Which is true about the cash surrender nonforfeiture option?

Find exceeding the premium paid or taxable as ordinary income

Life income joint and survivor settlement option guarantees

Income for two or more recipients until they die

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. Which settlement option should the policy owner choose?

Interest only option

Which of the following is true about the premium on the children's writer in a life insurance policy?

It remains the same no matter how many children are added to the policy

The type of settlement option which pays throughout the last times of two or more beneficiaries is called

Joint and survivor

Which life insurance settlement option guarantees payments for the lifetime of the recipient, but also specifies a guaranteed., During which, if the original recipient dies, the payments will continue to a designated beneficiary?

Life income with period Certain

An insured has a life insurance policy from a participating company and receives quarterly dividends. He has instructed the company to apply the policy dividends to increase the death benefit. The dividend option that is insured has chosen is called

Paid up additions

Which of the following allows the insurer to relieve a minor insured from premium payments if the minors parents have Dad or become disabled?

Payor benefits

The policy owner, the insured, and the beneficiary under a life insurance policy or three different people, who has the ownership rights?

Policyowner

A couple owns a life insurance policy with a children's term rider. Their daughter is reaching the maximum age of dependent coverage, so she will have to convert to permanent insurance in the near future. Which of the following well she need to provide for her proof of insurability?

Proof of insurability is not required

Which of the following, when attached to a permanent life insurance policy, allows the policy owner to customize the policy to provide an additional amount of temporary insurance on the insured, or allows amounts of temporary insurance to cover other family members?

Term rider

Nonforfeiture values guarantee which of the following for the policy owner?

That the cash value will not be lost

Upon the death of the insured, the primary beneficiary discovers that the insured chose the interest only settlement option. What does this mean?

The beneficiary will only receive payments of the interest earned on the death benefit

And insured committed suicide one year after his life insurance policy was issued. The insurer will

refund the premiums paid

When a whole life policy lapses or is surrendered prior to maturity, the cash value can be used to

How to say single premium policy for a reduced face amount

And insured will be allowed to reactivate her lapsed life insurance policy Action is taken within a certain period of time, and proof of insurability is provided. Which policy provision allows this?

Reinstatement provision