Life Insurance Final Study

whole life insurance

death benefit is guaranteed

in north carolina, for licensing purposes, an applicant is considered a resident if he or she

lives in north carolina or any county outside this state that borders north carolina

a viatical settlement does not mean

a written agreement entered into between a viator and a person having an insurable interest in the viator's life

for any person to receive commission from the sale of insurance

they must be licensed for that line of insurance

important fact about the financial status of an insurer is deliberately withheld. this is called

false financial statement

key person insurance cannot

pay the death benefit to the estate of the insured

equity indexed annuity will grow based upon

performance of a recognized index

annually renewable term insurance

proof of insurance is not required

With Adjustable Life, the owner can change all of the following EXCEPT

the insured

the commissioner must give X days written notice of all hearings

10 days (may not hold hearing immediately after determining that a violation has occured)

for a person to receive commissions from the sale of insurance

they must be licensed for that line of insurance

a married couple purchase a life insurance policy on their newborn baby. they are concerned about what would happen to the policy if either one of them were unable to continue making the premium payments due to death or disability. which policy rider should their agent recommend?

payor benefit - protection to insured minors. if life insurance is for child and the parent paying becomes