Life Ins - Practice Questions
What type of premium do both Universal and Variable Universal Life polices have?
Flexible
Which of the following best describes a pure life annuity settlement option?
Pure life following best describes a pure life annuity settlement option.
Which of the following is TRUE regarding variable annuities?
The annuitant assumes the risks on investments
Which of the following is a short term annuity that limits the amounts paid to a specific fixed period or until a specific fixed amount is liquidated.
Annuity Certain
Which of the following is NOT true regarding an annuity certain?
Benefits stop at the annuitant's death.
An individual has just borrowed $10,000 from his bank on a 5 -year installment loan requiring monthly payments. What type of life insurance policy would be best suited to this situation?
Decreasing Term
What are the two components of a universal policy?
Insurance and cash account
A policy will pay the death benefit if the insured dies during the 20-year premium-paying period, and nothing if death occurs after the 20-year period. What type of policy is this?
Level Term
Which of the following is an example of limited- pay life policy?
Life Paid-up at Age 65