quiz for life only
individual purchased a $100,000 joint life policy 8 years later he died in an automobile accident how much will his wife receive from the policy
$100,000
at least 30 an applicant wants to start an insurance program the realizing that his insurance needs will likely change he wants a policy that can be modified to accommodate those changes as they occur which of the following policies would most likely that his needs?
adjustable life
level term insurance provides a level death benefit and a level premium during the policy term pay the policy renews at the end of the specified period of the time the policy premium will be?
adjusted to the insured's age at the time of the renewal
all other factors being equal the last expensive first-year premium payment is found in
annually renewable term
which of the following would be the beneficiary in credit life insurance
creditor
which special policy combines decreasing term insurance with whole life insurance to provide the insurance family with a monthly income upon the death of the insured while maintaining permanent coverage until the end of the income
familia income policy
w owns a policy in which she is covered as the breadwinner with permanent insurance and with decreasing term insurance in the form of a rider what type of policy is this
family income policy
which Rider when attached to a permanent life insurance policy provides an amount of insurance on every family member
family term Rider
both universal life and variable universal life have a
flexible premium
what kind of policy does not typically require proof of insurability
group insurance
what kind of policy issues certificates of insurance to insureds?
group insurance
a father purchases a life insurance policy on his teenage daughter and adds the payor benefit Rider in which of the following scenarios will the writer waive the payment of the premium
if the father I disabled for more than 6 months
a return of premium term life policy is written as what type of term coverage
increasing
an insurer and his spouse own a home when the insured dies the insurer pays the remaining balance of his home alone which type of life insurance provision writer does this describe
mortage redemption
which of the following allows the insurer to relieve a minor insured from the premium payments if the Minor's parents have died or become disabled
payor benefit
a domestic insuer issuing variable contracts must establish one or more
separate accounts
an insurance policy that only requires a payment of premium at its inception provides Insurance protection for the life of the insured and matures at the insurance age 100 is called
single premium whole life
all of the following are true about variable products except
the premiums are invested in the insurer's general account
The breadwinner that is insured by a family policy dies what rights are provided to the family members that are covered under the policy
they can convert their coverage to permanent life insurance without evidence of insurability
Credit Life Insurance
Insures the life of a debtor
Variable Life Insurance is based on what kind of premium
Level fixed
which universal life option has a gradually increasing cash value and a level death benefit
Option A
To sell variable life insurance policies, an agent must receive all of the following EXCEPT
SEC Registration