Part#4

If an insured continually uses the automatic premium loan option to pay the policy premium?

The policy will terminate when the cash value is reduced to nothing

In comparison to consumer reports, which of the following describes a unique characteristic of the investigative consumer reports?

They provide information about a customer character and reputation

The rider in a whole life policy that allows the company to forgo collecting the premium if the insured is disabled is called?

Waiver of premiums

All of the following could own group life insurance except?

A group needing low-cost life insurance

All of the following statements concerning dividends are true except?

Dividend amounts are guaranteed in the policy

The death benefit under the universal life option B?

Gradually increases each year by the amount that the cash value increases

A domestic insurer issuing variable contracts must establish one or more?

Separate accounts

Which of the following best describes the MIB?

It is a non profit organization that maintains underwriting information on applicants for life and health insurance

Life income joint and survivor settlement option guarantees?

Income for 2 or more recipients until they die

Producers and insurers actions related to insurance transactions, from selling insurance to processing claims are referred to as?

Insurance- related conduct

The Policyowner 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.?

Interest only option

Which of the following riders added to a life insurance policy can pay part of the death benefit to the insured to cover expenses incurred in a nursing or convalescent home?

Long-term care

Under the Fair Credit Reporting Act, individuals rejected for insurance due to information contained in a consumer report?

Must be informed of the source of the report

After a back injury, an insured is disabled for a year. His insurance policy carries a Disability Income Benefit rider. Which of the following benefits will he receive?

Percentage of medical costs paid by the insurer