Life insurance, California laws and rules

What type of license is required for an individual who charges a fee to review an insured's existing life insurance policy?

Life and disability analyst

Why is a life insurance policy's delivery date important?

The free-look period begins on the policy delivery date

The California Insurance Code allows an individual how many days to cancel a life policy for a full-refund?

Between 10 and 30 days

What does the term "illustration" mean when used in the phrase "life insurance policy illustration", according to the California Insurance Code?

Presentation of policy features that includes non-guaranteed elements

Which of the following does NOT have to be included on life insurance policy illustrations?

Statement that all values and benefits are guaranteed

Who does a life settlement broker represent?

ndividual wanting to sell their life policy to a third party

A representation may be altered or withdrawn

only before the insurance is in effect

Paul has an existing annuity and is sold a new one, in which the new policy holds no greater financial benefit to him than the existing contract. This is considered a(n)

unnecessary replacement

The California Insurance Code defines "policy" as a(n)

written contract