Life policies

Which of these needs is satisfied by adjustable life insurance

Insured's need for flexible premiums

what type of life insurance gives the greatest amount of coverage for a limited period of time?

Term life

All of these statements about equity index like insurance are correct except:

The premiums can be lowered or raised based on investment performance

How does a typical variable like policy investment account grow?

Through mutual funds, stocks, and bonds

A(n) ________ life policy combines investment choices with a form of term coverage

Variable universal

Under a graded premium policy, the premiums

are lower during the policy's early years

Which provision allows the policy owner to change a term life policy to a permanent one without providing proof of good health?

conversion

when I policy owner exchange is a term policy for a whole life policy without proving proof of good health, which of these apply?

conversion provision

which of the following is considered an element of a variable life policy

underlying equity investment

A term life insurance policy matures

upon the insured's death during the term of the policy

A(n) _______ like policy offers the owners investment and products such as money market funds, long term bonds, and equities

variable

in order to sell a(n) ______ Life policy, a producer is required to register with the financial industry regulatory authority (FINRA)

variable

Which policy requires an agent to register with the national Association of securities dealers (NASD) before selling

variable life

what kind of life insurance starts out as a temporary coverage but can be later modified to permanent coverage without evidence of insurability

Convertible Term

S is close to retiring and would like to purchase a policy that will guild greater gains than bonds, but will still protect the principal with a minimum level of risk which product would S be advised to purchase?

Equity index insurance

A(n)_____ term Life policy is normally used when covering an insured's mortgage balance

decreasing

A variable insurance policy

does not guarantee a return on its investment accounts

A universal life policy is sometimes referred to as an unbundle life policy because the owner can see the interest earned, cost of the insurance, and the:

expense charges

The investment gains from a Universal Life Policy usually go toward

the cash value

The most important factor to consider when determining whether to convert term insurance at the insurers attained age or the insured's original age is

the cost

T would like to be assured 10,000 is available in 10 years to replace a roof on his house what kind of 10,000 policy should T purchase?

10 year endowment

A potential client age 40 would like to purchase a whole life policy that will accumulate cash value at a faster rate in the area early years of the policy which of these statements made by the producer would be correct

20 pay like accumulates cash value faster than straight life

All of these insurance products require an agent to have proper FINRA securities registration in order to sell them EXCEPT for

Modified whole life

Which is true concerning a variable universal life policy?

Policyowner controls where the investment will go and selects the amount of the premium payment

A Limited-Pay Life policy has

premium payments limited to a specified number of years

Under a Renewable Term policy,

the renewal premium is calculated on the basis of the insured's attained age

which of the following policies is characterizedBuy a flexible premium and a death benefit and allows the policy owner control of the investment aspect of the plan?

variable universal life

When is the face amount of a Whole Life policy paid?

when the insured dies or at the policy's maturity date

A life insurance policy that provides a policy owner with cash value along with a level amount is called

whole life

what type of insurance offers permanent life coverage with premiums that are payable for life

whole life

Y purchased $100,000 worth of permanent protection on himself and $50,000 worth of 10 year term coverage for his wife in the same policy which of these policies did Y purchase

whole life policy within other insured writer

If a 10 year term life policy contains a renewability provision the policy will renew

without evidence of insurability