Life insurance policies
when an employee terminates coverage under a group Insurance policy coverage continues in force
For 31 days.
all of the following are characteristics of group life insurance except
Premiums are determined by the age, sex and occupation of each individual certificate holder.
all of the following entities regulate variable life policies except
The Guaranty Association
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 types of policies allow for flexible premium and a variable investment component
variable universal life insurance
which of the following best describes annually renewable term insurance
It is level term insurance
which of the following life insurance policies would be considered interest sensitive
Universal Life
in a survivorship life policy when does the insured pay the death benefit
upon the last death
an insurance policy that only requires a payment of premium and it's inception provides insurance protection for the life of the insured and matures at the insurance age 100 is called
Single premium whole life
which of the following policies would be classified as a traditional level premium contract
Straight life
When would a 20-pay whole life policy endow?
When the insured reaches age 100
The type of insurance sold to a debtor and design to pay the amount due on the loan if the debtor dies before the loan is repaid is called
Credit life insurance
an individual has just borrow $10,000 from his bank on a five-year installment loan recurring monthly payments. What type of life insurance policy would be best suited to the situation
decreasing term
an individual purchased of $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
an adjustable life policy owner can change which of the following policy features
The coverage period