test 17

an insured with 1 month old infant is looking for a $250,000 death benefit for twenty years with the lowest premium. Which would you consider most suitable?

20 year level term

TSA plans are also known as 403b plans are for whom?

501c employees

which of the following types of LTC care is not provided in an institutional setting?

adult day care

who must pay the premiums in a credit life policy?

borrower

which type of plan is called a section 125 plan?

cafeteria plan

performing a credit insurance policy and stating that the insured must purchase the life policy through the creditor is an example of:

coercion

to whom is a profit sharing plan supposed to be designed for?

employees

Medicaid provides for long term care in which situation?

financial or indigent needy persons

which of the following statements is true about a policy assignment?

it transfors the owner's rights under the policy to the extent expressed in the assignment form

all of the following are whole life policies except:

joint life

FICA most likely funds which?

medicare and OASHDI

which of the following best describes gross annual premium?

morality annual cost + expense loading

which of the following is true about sharing of commission between producers?

must have the same licenses

a straight life fixed annuity will pay benefits for?

the annuitant's lifetime

accidental bodily means refers too?

the cause and injury were accidental

R transfers his life insurance policy to his son A two years before R's death. which of the following is true?

the entire face value of the policy will be included in R's taxable estate

which of the following losses are commonly exclude?

the insured intentionally drives their vehicle into a ditch

the cash value may be lowered by which surrender charge scenario?

the insured surrenders the policy early

which of the following is true about adjustable life insurance

the policy may convert between temporary and permanent as the insured chooses

which of the following conversions would likely be completed as nonmedical?

whole to term