Xcel life weighted exam.2

Which of the following Life insurance policies combine term insurance with an investment element

A Universal Life Policy

A policyowner may generate taxable income from which of the following dividend options

Accumulation at interest

K's whole life insurance policy lapsed two months ago due to nonpayment. She would now like to reinstate the policy. All of the statements are correct about the policy's reinstatement EXCEPT

K will forfeit the right to use the automatic loan provision upon reinstatement

A whole life insurance policyowner does not wish to continue making premium payments. Which of the following enables the policyowner to sell the policy for more than the cash value?

Life settlement contract

Which of these is NOT a type of agent authority

Principal

Upon delivery of a rated life insurance policy, the Producer must obtain each of the following EXCEPT

Signed HIPAA disclosure

Who is normally considered to be the owner of a 403{b} tax-sheltered annuity?

The employee

At what point does a Whole Life Insurance endow

When the cash value equals the death benefit

A return of premium life insurance policy is

Whole life and Increasing term

Which of the following actions require a policyowner to provide proof of insurability in an Adjustable life policy

increase face amount

A term life insurance policy matures

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