Life insurance policies

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when an employee terminates coverage under a group Insurance policy coverage continues in force

For 31 days.

all of the following are characteristics of group life insurance except

Premiums are determined by the age, sex and occupation of each individual certificate holder.

all of the following entities regulate variable life policies except

The Guaranty Association

if an employee wants to enter the group outside of the open enrollment period to reduce adverse selection the insurer may

require evidence of insurability

which of the following types of policies allow for flexible premium and a variable investment component

variable universal life insurance

which of the following best describes annually renewable term insurance

It is level term insurance

which of the following life insurance policies would be considered interest sensitive

Universal Life

in a survivorship life policy when does the insured pay the death benefit

upon the last death

an insurance policy that only requires a payment of premium and it's inception provides insurance protection for the life of the insured and matures at the insurance age 100 is called

Single premium whole life

which of the following policies would be classified as a traditional level premium contract

Straight life

When would a 20-pay whole life policy endow?

When the insured reaches age 100

The type of insurance sold to a debtor and design to pay the amount due on the loan if the debtor dies before the loan is repaid is called

Credit life insurance

an individual has just borrow $10,000 from his bank on a five-year installment loan recurring monthly payments. What type of life insurance policy would be best suited to the situation

decreasing term

an individual purchased of $100,000 joint life policy on himself and his wife eight years later he died in an automobile accident how much will his wife receive from the policy

$100,000

an adjustable life policy owner can change which of the following policy features

The coverage period


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