Life Insurance Basics

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Premium receipt

type of receipt issued when premiums are collected with the application

Charge a higher premium

If an applicant for a life insurance policy is found to be a substandard risk, the insurance company is most likely to

conditional receipt

States that coverage will be effective either on the date of application or the date of the medical exam, whichever occurs last, as long as the policy is issued as applied for

group insurance

What kind of policy issues certificates of insurance to insureds?

Vacation Travel Expenses

Which of the following would least likely be considered a legitimate need that would be paid by insurance proceeds?


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