Primerica: life insurance basics

¡Supera tus tareas y exámenes ahora con Quizwiz!

Predicted needs of family after insureds death

Based on human life value approach, what is NOT used to calculate an individual's life value.

Liquidity

Cash values can be borrowed at any time

Payment plan monthly-> anually

Decreases because the insurer would have entire premium to invest for full year

Buyers guide

Generic consumer publication that explains life insurance in general terms

Application

Primary source for insurance underwriting

Life settlement transaction contract termination

15 days to rescind contract

Permanent policy

Cash value involved

Cost comparison methods

Comparing 1 cost of life insurance policy to another

The owner

In a life settlement contract, the life settlement broker represents

Industrial life

Insured has life policy w/ face amount of $500. Pays premium each week to agent who sold him policy. What kind of policy is this? Usually with face amount under $1000, written nonmedically

Paramedical report

May only be completed by registered nurse

Gross annual premium

Net premium plus expenses

Inspection report

Report regarding potential insured that includes the insureds financial status/ hobbies/ habits

Any form of insuranxe

Type of insurance policy to fund agreements

Earliest a policy may go into effect

When application is signed and check given to agent

Company underwriters allowed to discriminate?

Yes, not unfairly


Conjuntos de estudio relacionados

GSCI-037-S003: Eighth-Grade Science, Part 2 (Online) Review Quiz 1 and Review Quiz 2

View Set

Biology 1610 Final Exam Test Prep

View Set

Sociology - Aging and the Elderly - Chpt 14 - Exam 3

View Set

Personal Finance Chptr 1+2 ( time value of money, liquidity, financial planning)

View Set

Puritan and Revolutionary Literature Quiz AP Lang

View Set