Chapter 4

अब Quizwiz के साथ अपने होमवर्क और परीक्षाओं को एस करें!

Which of the following writers added to a life insurance policy can pay part of the death benefit to the insured to cover expenses incurred in a nursing or convalesce at home

Long-term care

An insured has a life insurance policy from a participating company and receives quarterly benefits. He has instructed the company to apply the policy dividends to increase the death benefit the dividend and option that the insured has chosen is called.

Paid up additions

An insured pays 1200 annually for her life insurance premium. The insured applies this year's $300 worth of accumulated dividends to the next year's premium thus reducing it to $900 what options does this describe?

Reduction of premium

A policy owner who has also the insured wants to name her husband as the beneficiary of her life policy. She also wishes to retain all the rights of ownership. The policy owners should have her husband named as the.

Revocable beneficiary

Which of the following determines the length of time that benefits will be received under the fixed amount settlement option

Size of each installment

If an insured withdraws a portion of the face amount in the form of accelerated benefits because of a terminal illness, how will that affect the payable death benefit from the policy?

The death benefit will be smaller

A father purchases a life insurance policy on his teenage daughter and adds the payer benefit writer in which of the following scenarios will the rider waived the payment of the premium

If the father is disabled more than six months

What is the benefit of choosing extended term as a non-forfeiture option?

It has the highest amount of insurance protection as

Which of the following applies to the 10 day free look privilege

It permits the insured to return the policy for a full refund of premium paid

Which of the following is true about the premium on the child's writer in the life insurance policy

It remains the same, no matter how many children are added to the policy

Which is not true about beneficiary designations

The beneficiary must have insurable interest in the insured.

What is the purpose of settlement options

They determine how death proceeds will be paid

An insured had a $10,000 term life policy the annual premium of $200 was due on February 1. However, the insured failed to pay the premium he died on February 28. How much would the beneficiary receive from the policy?

$9,800 In this scenario, the death occurred within the mandatory 30-day grace period. Past due premium would be subtracted from the face amount of the policy.

Which of the following named beneficiaries would not be able to receive the death benefit directly from the insurer in the event of the insured death

A minor son of the insured

An insured misstate, her age at the time of the life insurance application is taken the misstatement rate may result in

Adjustment in the amount of death benefit

Under which of the following circumstances would an insurer pay accelerated benefits?

An insured is diagnosed with cancer and needs help paying for her medical treatment

Which of the following is true regarding a single life settlement option?

it provides income the beneficiary cannot outlive

What is the term for how frequently a policy owner is required to pay the policy premium

mode

Which of the following provisions would not be allowed as a part of a life insurance policy issued in Michigan

A provision that allows the effective date of the policy to be backdated up to 8 months in order to effect a lower premium rate for the insured.

The dividend option in which the policy owner uses dividends to purchase a term policy for one year is referred to as the

one-year term option


संबंधित स्टडी सेट्स

ATI Med Surg Nursing: Parkinson's Disease

View Set

MGT491 - Chapter 10 Practice Quiz

View Set

Simple, Compound, Complex, Fragment, and Run-Ons - Definitions and Examples

View Set

Ch 51 Assessment and Management of Patients with Diabetes Practice Qs

View Set

Texas Real Estate Finance - Chp 4 - The Secondary Mortgage Market

View Set

CLIPP Case 28 (18-month-old with developmental delay) and Case 29 (Infant with hypotonia)

View Set

Phys Block 6 Question Bank (Review Book, Old Tests, In-Class Questions)

View Set

Management and Organizational Behavior Chapter 2 WSU

View Set

Physics, Paper 1 - Section 2 (Electricity)

View Set

Ch. 16 - Gene regulation in eukaryotes

View Set