Life Insurance Policies
an individual purchases a 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
The death protection component of Universal Life Insurance is always
Annually Renewable Term
Term policies are available as Level, Increasing and Decreasing. which policy component fluctuates depending on the policy type?
Death Benefit
Which Universal Life option has a gradually increasing cash value and a level death benefit?
Option A
to sell variable life insurance policies, an agent must receive all of the following except
SEC registration
A straight life policy has what typer of premium
a level annual premium for the life of the insured
which of the following features makes whole life insurance permanent protection?
coverage until death or age 100
which of the following is true about credit life insurance?
creditor is the insured
which of the following best describes annually renewable term insurance?
it is a level term insruace
what is the most common name for a single policy that is designed to insure two or more lives with a standard premium, and that pays the death benefit upon the first death?
join life
which of the following is an example of a limited-pay life policy?
life paid-up at age 65
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 Is true reguarding a premium in a 10-year level premium policy?
the premium will remain level for 10 years