Exam FX Chapter 2- Types of Life Insurance Policies

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

Which of the following products will protect an individual from outliving their money?

Annuity

What is another name for interest-sensitive whole life insurance?

Current assumption life

General Account

Fixed rate of return, guaranteed at a minimum level.

A lucky individual won the state lottery, so the state will be sending him a check each month for the next 25 years. What type of annuity products are they likely to use to provide these benefits?

Immediate annuity

Universal Life

Implies that the policy owner has the flexibility to increase the amount of premium paid into the policy and to later decrease it again. Policy owner may even skip paying a premium and the policy will not lapse as long as s there is sufficient cash value at the time to cover the monthly deductions for cost of insurance.

Why is an equity indexed annuity considered to be a fixed annuity?

It has a guaranteed minimum interest rate.

Term Insurance

Provides the greatest amount of coverage for the lowest premium. It has no cash value.

Which type of life insurance policy generates immediate cash value?

Single Premium

Which of the following determines the cash value of a variable life policy?

The performance of the policy portfolio

Which of the following is a key distinction between variable whole life and variable universal life products?

Variable whole life has a guaranteed death benefit

Adjustable life

can assume the form of either term insurance or permanent insurance

Who bears all of the investment risk in a fixed annuity?

insurance company

An insured purchased a Life Insurance policy. The agent told him that depending upon the company's investments and expense factors, the cash values could change from those shown in the policy at issue time. The policy is a/an

interest-sensitive whole life

whole life insurance

provides lifetime (permanent) protection and accumulates cash value.

A domestic insurer issuing variable contracts must establish one or more

separate accounts


संबंधित स्टडी सेट्स

Semiologia - Exame físico Musculoesquelético

View Set

Week 2 Legal Personality & Limited Liability

View Set

Ch 4- Life Insurance Premiums, Proceeds, and Beneficiaries

View Set

14.2.5 Controls and Frameworks Section Quiz

View Set