MO Life Accident and Health Insurance Producer
J, a 30-year-old proposed insured, plans to retire at age 60 and wants to purchase life insurance that offers level premiums and life-long protection. If J also wants the policy to be paid up when J retires, J should buy A: 30-Pay Life B: Ordinary Life C: Modified Whole Life D: Term to Age 60
A: 30-Pay Life
In a life insurance contract, the consideration given by the applicant in exchange for the promises of the insurance company consists of the insured's statement in the application and which of the following items? A: A Written Promise to pay all premiums when due B: Payment of the initial Premium C: A medical examination report. D: Permission for the company to check the insured's credit.
A: A Written Promise to pay all premiums when due
In a life insurance contract, the consideration given by the applicant in exchange for the promises of the insurance company consists of the insured's statement in the application and which of the following items? A: A Written Promise to pay all premiums when due B: Payment of the initial Premium C: A medical examination report D: Permission for the company to check the insured's credit
A: A Written Promise to pay all premiums when due
Which of the following provisions could double the face amount of insurance if an insured's death occurred as the result of an unintended and unforeseen event? A: Accidental Death and Dismemberment (AD&D) provision. B: Payor Provision C: Joint and Survivorship Clause D: Consideration Clause
A: Accidental Death and Dismemberment (AD&D) provision.
Which of the following statements is required by Long-Term care insures when referring to inflation protection in qualified Long Term care policies? A: All policies must include inflation protection B: It is mandatory for the insurance companies to offer consumers the option of inflation protection C: The insurance companies have the choice if they want to offer inflation protection D: The purchaser must request inflation protection after the policy is issued
A: All policies must include inflation protection
A beneficiary who must consent to a change in the beneficiary designation in a life insurance policy is referred to as A: An irrevocable beneficiary B: A contingent beneficiary C: A secondary beneficiary D: A primary beneficiary
A: An irrevocable beneficiary
An insurance company notifies an insured that $50 of the insured's physician's charge is above the usual, customary, and reasonable limits covered by the major medical policy in this situation, the excess amount would be A: Applied to the deductible B: Paid at the 80/20 coinsurance rate C: Disallowed as a covered charge D: Charged back to the physician
A: Applied to the deductible
A policy owner may change a revocable beneficiary at which of the following times? A: At any time B: Only when the insurance company renews the policy C: Only if the beneficiary dies D: Never
A: At any time
Which of the following statements is CORRECT about beneficiary designations? A: By naming an irrevocable beneficiary, a policy owner forfeits the right to change the beneficiary B: A primary beneficiary may not be a minor C: A primary beneficiary and a contingent beneficiary each receive one-half of the proceeds D: In group insurance, the employer is the beneficiary for each employee
A: By naming an irrevocable beneficiary, a policy owner forfeits the right to change the beneficiary
If an insured commits suicide when a suicide clause is in effect, an insurance company will A: Deny the claim and return the premiums paid B: Deny the claim and retain the premiums paid C: Pay one-half of the death benefit D: Pay the entire death benefit
A: Deny the claim and return the premiums paid
S applies for an individual major medical policy and the insurance company issues a standard policy. When S receives the policy, S notices that the application is attached to the policy. Which of the following policy elements makes the application, if attached, part of the contract between S and the insurance company? A: Entire contract provision B: Legal actions provision C: Incontestable clause D: Insuring clause
A: Entire contract provision
J owns a disability income policy. Before purchasing the policy, J suffered a major back injury that is specifically for coverage under the policy. The clause in J's policy that EXCLUDES back injury claims is found in the A: Impairment rider B: Guaranteed insurability rider C: Recurrent disability clause D: Concurrent disability insurability rider
A: Impairment rider
An Adjustable Life policyholder may take all of the following actions without providing proof of insurability EXCEPT A: Increase the face amount B: Decrease the face amount C: Increase the premium-paying period D: Decrease the premium-paying period
A: Increase the face amount
An Adjustable Life policyholder may take all of the following actions without providing proof of insurability EXCEPT: A. Increase the face amount B: Decrease the face amount C: Increase the premium-paying period D: Decrease the premium-paying period
A: Increase the face amount
Which of the following statement about a settlement Option provision in a life insurance policy is correct? A: It describes various methods of distributing Death Benefits to beneficiaries B: It permits a beneficiary to settle out of court if a claim is contested by an insurance company C: It defines procedures for an insurance company to follow in settling disputes among an insured's heirs D: It defines an insurance company's options in settling legal disputes with a policy owner
A: It describes various methods of distributing Death Benefits to beneficiaries
Which of the following statements is CORRECT regarding Variable Whole Life Insurance? A: It is insurance and a securities product B: It is a securities product only C: It is regulated by the federal government only D: It is regulated by the state government only
A: It is insurance and a securities product
Which of the following statements is CORRECT regarding Variable Whole Life Insurance? A: It is insurance and a securities product. B: It is a securities product only. C: It is regulated by the federal government only. D: It is regulated by the state government only.
A: It is insurance and a securities product.
Which of the following policies insures two individuals and is designed to pay a benefit at the second death? A: Joint Life B: Survivorship Life C: Variable Life D: Adjustable life
A: Joint Life
Able Construction Company wants to take out an insurance policy on its president to offset the cost of replacing the president if the president should die prematurely. The type of policy the company should buy is called A: Key Employee B: Cross-Purchase Buy-Out C: Stock Redemption D: Credit Life
A: Key Employee
Which of the following reports has the primary purpose to inform an insurance company about a prospect's previous medical insurance history? A: Medical Information Bureau (MIB) B: Attending physician's statement C: Inspection report D: Producer's report
A: Medical Information Bureau (MIB)
All of the following entities are managed care organizations EXCEPT A: POS B: HMO C: MIB D: PPO
A: POS
Which of the following provisions can an insured use to put a policy in force that has lapsed as a result of non-payment? A: Reinstatement B: Legal actions C: Grace period D: Time limit on certain defenses
A: Reinstatement
All of the following options are examples of Nonforfeiture options EXCEPT: A: Renewability B: Extended-Term Insurance C: Cash Surrender Values D: Reduced Paid-Up Insurance
A: Renewability
When an employer provides noncontributory group Term life insurance, which of the following statements is CORRECT? A: The employer pays the entire cost of the plan B: Dependents of the employees are prohibited from being covered C: Coverage for salaried employees must be different from coverage for hourly workers D: The incontestable Period is waived
A: The employer pays the entire cost of the plan
An insured is injured while robbing a bank. If the insured's Accident and Health policy contains an illegal occupation provision, the policy will pay A: The full benefits B: One-half of the policy benefits C: A premium refund only D: Nothing
A: The full benefits
Which of the following features is typical of Term insurance? A: The policy expires at the end of the policy period B: The policy is paid up at the end of the policy period C: The policy cash value matures at the end of the policy period D: The policy endows at the end of the policy period
A: The policy expires at the end of the policy period
Which of the following statements is CORRECT about benefits provided by a basic hospital and surgical policy? A: They are lower than the actual expenses incurred B: They are subject to large deductibles C: They are higher than those provided by major medical policies D: They are unlimited
A: They are lower than the actual expenses incurred
A primary beneficiary would be named for which of the following types of accident and health policies? A: Travel accident B: Major Medical C: Nursing home D: Business overhead expense
A: Travel accident
Which of the following statements BEST describes the primary difference between a health maintenance organization (HMO) and a preferred provider organization (PPO)? A: Under a PPO the insured may use any medical provider whereas providers are restricted with HMOs B: Under an HMO the deductibles are higher than those of PPOs C: PPOs do not provide preventive care benefits whereas HMOs do D: HMOs utilize larger cost-sharing than do PPOs
A: Under a PPO the insured may use any medical provider whereas providers are restricted with HMOs
S and W are business partners. Each takes out a $100,000 life insurance policy on the other, naming himself as the primary beneficiary. S and W eventually dissolve their business, and two months later S dies. Although S was married at the time of death, the primary beneficiary is still W. However, an insurable interest no longer exists. The proceeds from S's life insurance policy will go to A: W B: S's spouse C: S's estate D: The Partnership
A: W
An applicant for life insurance must be informed of their rights under the Fair Credit Reporting A: When the producer makes the initial appointment to see the insured B: When the producer completes the insured's application C: When the producer delivers the policy D: When the insured receives the initial premium
A: When the producer makes the initial appointment to see the insured
An insured, age 30, wants to purchase a Whole life policy that will accumulate cash value at a faster rate in the early years of the policy. Which of the following statements would be the producer's most appropriate response? A: "Straight Life will accumulate cash value faster." B: "20 pay life will accumulate cash value faster." C: "Straight life and 20-pay Life will accumulate cash value at the same rate." D: "The rate of cash value accumulation depends on the profitability of the insurance company."
B: "20 pay life will accumulate cash value faster."
Under the Internal Revenue Code, a portion of the employer-paid premium of group Term Life insurance is taxable for an employee whose coverage is what minimum amount? A: $10,000 B: $25,000 C: $50,000 D: $100,000
B: $25,000
A 30-year-old prospective insured is considering the purchase of a life insurance policy. If all of the following policies have the same face amount, which would require the largest annual premium? A: Straight Life B: 20-Pay Life C: 30-Pay Life D: Life Paid-Up at 65
B: 20-Pay Life
The recurrence of a disabling illness would most likely be defined as a recurrent disability unless the insured had been disabled and then returned to work for a minimum of how many months before suffering the relapse? A: 3 B: 6 C: 9 D: 12
B: 6
An application for a life insurance policy that is submitted with the initial premium is legally considered to be A: A counteroffer B: An Offer C: A Consideration D: An Acceptance
B: An Offer
Which of the following features of a life policy is used to restrict coverage? A: An endorsement B: An exclusion C: An Other Insured rider D: A consideration clause
B: An exclusion
A characteristic NOT found in a group disability income policy is A: Cost of living adjustment B: Benefits based on an employee's income C: Medical underwriting D: Elimination period
B: Benefits based on an employee's income
Which of the following sections of an insurance contract limits coverage? A: Waiver of premium B: Conditions C: Exclusions D: Declarations
B: Conditions
The intent of the notice of claim provision in an accident and health policy is to A: Protect insurance companies from insureds who file claims while still confined in a hospital B: Instruct policy owners that they are responsible for notifying insurance companies of claims C: Provide policy owners a maximum of 10 days after a loss in which to file claims D: Allow insurance companies to do post-claim underwriting
B: Instruct policy owners that they are responsible for notifying insurance companies of claims
Which of the following statement is CORRECT about a policy loan against a life insurance contract? A: An insurer may defer making a loan for a maximum of 3 months B: Interest on a loan which is not paid when due is added to the total debt C: Interest rates on a loan are determined by the insurance company's loss-ration experience D: Failure to repay a loan when it becomes due automatically voids the policy
B: Interest on a loan which is not paid when due is added to the total debt
Which of the following statements is CORRECT about medicare? A: It is a medical assistance program B: It is a hospital and medical expense insurance program C: It provides benefits to totally disabled persons only D: Its part A provides payment for physicians' bills
B: It is a hospital and medical expense insurance program
Which of the following statements is CORRECT about medicare? A: It is a medical assistance program B: It is a hospital and medical expense insurance program C: It provides benefits to totally disabled persons only D: Its part A provides payment for physicians' bills
B: It is a hospital and medical expense insurance program
A coinsurance provision may be included in which of the following types of policies? A: Accidental Death and Dismemberment B: Major Medical C: Hospital Indemnity D: Disability Income
B: Major Medical
A client should know that the indexed annuity differs from the fixed annuity in that the indexed annuity: A: Does not link to any indexes outside the fixed account. B: May receive credited interest based on the fluctuations of the linked index C: Directly participates in equity investments. D: Does not have a fixed interest account.
B: May receive credited interest based on the fluctuations of the linked index
A policy that is overfunded, according to I.R.S. tables, is classified as which of the following types of policy: A: Paid-up Whole Life B: Modified Endowment Contract C: Single Premium Life D: Limited Pay Contract
B: Modified Endowment Contract
M understates her age in an application for a life insurance policy. At M's death, the company will MOST likely: A: Pay all benefits and charge an additional premium for the difference between her tube age M gave B: Pay an amount based on what M's premium payment would have purchased if M had given her true age C: Pay full benefits, less any interest earned D: Refuse to pay any benefits
B: Pay an amount based on what M's premium payment would have purchased if M had given her true age
The primary purpose of including a Suicide Provision in a life insurance policy is to A: Exclude the risk of suicide from coverage permanently B: Protect the insurer against the purchase of a policy in contemplation of suicide C: Enable the insurer to distinguish between sane and insane suicides D: Place the burden of proof on the beneficiary to show that the insured's death was not the result of suicide
B: Protect the insurer against the purchase of a policy in contemplation of suicide
On July 1, a producer accepts an application and the annual premium for a health policy. On July 15, the insurance company issues the policy, but the producer does not deliver it until August 15. If the insured decides not to accept the policy and returns it to the producer on August 24, the company will: A: Refund the full premium B: Refund the premium minus a prorated amount for the forty days of coverage C: Refund six months of the premium D: Retain the full premium
B: Refund the premium minus a prorated amount for the forty days of coverage
When completing an insurance application, a producer should A: Complete as much of the application as possible before meeting with the applicant to save time B: Request that the applicant review the completed application before signing it C: Avoid asking the applicant questions on the application which may be embarrassing D: Omit information from the application which may cause the application to be rejected by the insurance company
B: Request that the applicant review the completed application before signing it
In a third-party ownership arrangement, which of the following individuals is a party to the contract? A: The irrevocable beneficiary B: The applicant C: The revocable beneficiary D: The Producer
B: The applicant
Under a unilateral life insurance policy, which of the following parties makes the legally enforceable promises? A: The producer B: The insurance company C: The insured D: The applicant
B: The insurance company
The insurance clause in an Accident & Health policy states which of the following information? A: The insured's obligations B: The insurance company's obligations C: The risks excluded from coverage D: The cost of the coverage
B: The insurance company's obligations
When attempting to sell a participating life policy to a client, a producer MUST do which of the following activities? A: Cash surrender the existing policy B: Obtain a form signed by the applicant that states that an existing policy is being replaced C: Notify the existing policy's producer about the replacement D: Notify the director of insurance that an existing policy is being replaced
C: Notify the existing policy's producer about the replacement
Which of the following statements is correct about statements a proposed insured makes on a life insurance application? A: They are warranties and are considered to be literally true B: They are representations and deemed true to the best of the applicant's knowledge C: The producer is responsible for determining their truth D: If untrue, they are deemed an act of concealment and automatically void the policy
B: They are representations and deemed true to the best of the applicant's knowledge
The applicant's signature is required on a life insurance application for which of the following reasons? A: To guarantee that the statements on the application are true B: To represent that the statements on the application are true to the best of the applicant's knowledge C: To represent that the statements on the application are warranties D: To authorize the producer to add information to the application
B: To represent that the statements on the application are true to the best of the applicant's knowledge
Accidental Death and Dismemberment (AD&D) coverage provides benefits for death or dismemberment due to A: Suicide only B: Unexpected injury only C: Dread disease only D: Any cause
B: Unexpected injury only
If an insured fails to pay the premium when due, the insured's health policy will remain in force for a specified period of time under which of the following provisions? A: Grace period B: Waiver of premium C: Guaranteed insurability D: Entire contract
B: Waiver of premium
In order for a company to make a contributory group life insurance plan available to its employees, what minimum percentage of the eligible employees must participate in the plan? A: 25% B: 50% C: 75% D: 100%
C: 75%
An insurance producer who engages in the sale of annuity products shall complete a one-time training course of how many hours prior to engaging in the sale? A: 3 B: 4 C: 8 D: 12
C: 8
Which of the following contracts is purchased with a lump sum and pays a guaranteed income? A: A Variable Annuity B: A Flexible Premium Annuity C: A level Premium Annuity D: A Single Premium Annuity
C: A level Premium Annuity
Which of the following parts of a life policy is guaranteed to be CORRECT? A: An exclusion B: A waiver C: A warranty D: A representation
C: A warranty
If a forty-five-old individual bought an annuity to provide income for life beginning at age sixty-five, the insured did NOT buy: A: A Variable Annuity B: A deferred Annuity C: An Immediate Annuity D: An Installment Refund Annuity
C: An Immediate Annuity
Which of the following sections of a life insurance contract states that the application is part of the contract? A: Nonforfeiture Option B: Insuring Agreement C: Entire Contract Provision D: Incontestability Provision
C: Entire Contract Provision
A Guaranteed Insurability provision is best described as a A: Provision that allows the issuance of additional coverage B: Provision that allows insurance to be issued on children of the insured C: Guarantee to keep a policy in force if the premium is paid D: Guarantee to exercise a Waiver of premium benefit
C: Guarantee to keep a policy in force if the premium is paid
One of the basic concepts of insurance underwriting is that a life insurance policy owner must be the insured, a blood relative of the insured, or someone who would suffer an economic loss if the insured died. The concept is known as A: Warranty B: Fiduciary responsibility C: Insurable interest D: Incontestability
C: Insurable interest
Which of the following statements BEST describes the purpose of a disability income policy? A: It is used to pay for hospital, medical, and surgical expenses if a serious disability occurs B: It is designed to supplement medicare part A benefits C: It is used to pay for an insured's normal living expenses if the insured becomes disabled D: It is designed to supplement workers' compensation benefits
C: It is used to pay for an insured's normal living expenses if the insured becomes disabled
Which of the following statements is CORRECT about an individual disability income policy? A: Its benefits are taxable B: It is considered to be a reimbursement policy C: It often contains an Elimination period D: It has a six-month incontestable clause
C: It often contains an Elimination period
An Accelerated Death Benefit of a life insurance policy is also known as: A: Life Income B: Modified Endowment C: Living Benefit D: Refund Life
C: Living Benefit
On May 14, a prospect completes an application for insurance. The producer collects the initial premium and issues a conditional receipt. The insurance company determines that the prospect is insurable and issues a standard policy on May 26. If the producer delivers the policy to the insured on June 1, the effective date of coverage is A: May 14 B: May 24 C: May 26 D: June 1
C: May 26
An insured becomes disabled on March 1 and submits a claim statement to the insurance company on March 31, while still disabled. The company fails to remit payment promptly and the insured decides to seek legal advice. The earliest date the attorney may take legal action against the insurance company is A: April 30 B: May 16 C: May 31 D: June 15
C: May 31
Which of the following persons has the right to change the beneficiary designation on a life insurance policy? A: The revocable beneficiary B: The irrevocable beneficiary C: The policy owner D: The premium payer
C: The policy owner
Which of the following statements is CORRECT about a Whole Life policy? A: Premium payment can be increased or decreased at the discretion of the premium payer B: The beneficiary designation can be changed to another person only if that person passes a medical examination C: The policy owner may borrow against the cash value of the policy D: The named beneficiary must submit evidence of continuing insurable interest in the life of the insured in order to collect the death benefit
C: The policy owner may borrow against the cash value of the policy
If an insured dies during the Contestable period of a life insurance policy, the insurance company will NOT pay the policy to proceed in which of the following situations? A: The insured was killed by a burglar B: The insured has assigned the policy C: There was a material misrepresentation in the application D: There was a misstatement of age in the application
C: There was a material misrepresentation in the application
Dividends paid on a life insurance policy are: A: Warranted by Moody's Bond Index B: Projected but not guaranteed C. Guaranteed at a stated minimum D. Guaranteed at the prime rate
D. Guaranteed at the prime rate
In order for a company to make a non-contributory group life insurance plan available to its employees, what minimum percentage of eligible employees must participate in the plan? A: 25% B: 50% C: 75% D: 100%
D: 100%
Traditional Individual Retirement Account (IRA) withdrawals are generally subject to a tax penalty if they are made before the insured reaches what minimum age? A: 70 ½ B: 65 C: 62 D: 59 1/2
D: 59 1/2
Which of the following items binds the insurer to coverage as of the date of the application or medical examination, whichever is later, provided that the proposed insured is determined to be an acceptable risk? A: A binding receipt B: A conditional receipt C: A collateral assignment D: An absolute assignment
D: An absolute assignment
The premium mode that results in the lowest premium outlay is A: Monthly B: Quarterly C: Semiannually D: Annually
D: Annually
The premium mode that results in the lowest premium outlay is: A: Monthly B: Quarterly C: Semiannually D: Annually
D: Annually
An agent receives an unsolicited call from a prospective client who wants to purchase a large single premium life policy. When advised about early withdrawal penalties, the client does not seem concerned and is evasive when the agent inquires about the source of the funds. In this situation, the agent should take which of the following actions? A: Take an application and submit the funds to the insurance company B: Prepare a proposal for the requested single premium policy to submit with the application C: Request a cashier's check for submission to the insurance company with an application D: Contact the insurance company compliance officer to report a red flag
D: Contact the insurance company compliance officer to a red flag
On January 3, an insured accepts delivery of a whole life policy that has an effective date of December 22 of the previous year. The policy contains a six-month Waiver of Premium provision. If the insured becomes disabled on January 6 as the result of an accident, and the disability continues beyond July 6, the insurance company will A: Void the policy and refund all the premiums without interest. B: Void the policy and refund all the premium with interest but deduct a 1-month premium for issue cost. C: Continue the coverage and reimburse the insured for wage loss incurred during the period of disability. D: Continue the coverage and refund the premiums paid during the period of disability.
D: Continue the coverage and refund the premiums paid during the period of disability.
Because health insurance policies are offered on a "take it or leave it" basis, they are referred to as which of the following types of contracts? A: Aleatory Contracts B: Executory Contracts C: Unilateral Contracts D: Contracts of Adhesion
D: Contracts of Adhesion
Which of the following features of a group Term Life policy enables an individual to leave the group and continue his or her insurance without providing evidence of insurability? A: Owner's Right Clause B: Incontestable Period C: Insuring Agreement D: Conversion Privilege
D: Conversion Privilege
An annuity that allows an individual to choose the annual premium payment amount is A: Single Premium B: Quarterly premium C: Level Premium D: Flexible Premium
D: Flexible Premium
The accelerated death benefit in a life insurance contract can be accessed by which of the following methods? A: Submitting for access 75% of the contract's death benefit upon diagnosis of a cancerous tumor B: Surrendering the life insurance contract for the death benefit following admission to a nursing home. C: Surrendering the life insurance contract for a viatical settlement. D: Having an authorized physician diagnose a terminal illness to the carrier with a prognosis of less than one-year life expectancy
D: Having an authorized physician diagnose a terminal illness to the carrier with a prognosis of less than one-year life expectancy
Which of the following provision of life insurance will pay a stated amount to an insured if the insured is blinded in an accident? A: Payor clause B: Return of cash Value rider C: Accidental Death and Dismemberment clause D: Impairment Rider
D: Impairment Rider
An employee who owns an individual disability income policy is injured in an automobile accident and files proof of loss with the insurance company. Under the payment of claims provision in the policy, the company will likely pay the policy benefits to the A: Insured's employer B: Insured's attending physician if the insured has assigned the benefits C: Insured's beneficiary D: Insured
D: Insured
On May 8, a prospect filled out an application for a life insurance policy but paid no premium. The insurance company approved the application on May 14 and issued the policy on May 15. The producer delivered the policy on May 26 and collect the first premium. The coverage becomes effective on A: May 8 B May 14 C: May 15 D: May 26
D: May 26
Which of the following policy features permits an insured to pay premiums MORE than once every year? A: Consideration clause B: Payor Clause C: Settlement Options provision D: Mode of Premium provision
D: Mode of Premium provision
The time of payment of claims provision requires that an insurance company pay disability income benefits no less frequently than A: Annually B: Semiannually C: Quarterly D: Monthly
D: Monthly
The primary purpose of the coordination of benefits provision found in most group major medical policies is to perform which of the following functions? A: Providing coverage for insureds who are leaving their employment B: Preventing a claimant from profiting from an injury or sickness C: Allowing an insured to receive both disability income benefits and medical expense benefits if entitled to both D: Permitting an insurance company to pay benefits directly to providers of medical services
D: Permitting an insurance company to pay benefits directly to providers of medical services
An insurance company must furnish claim forms to an insured so that the insured can file A: A request for an endorsement to the policy B: A request for a change in beneficiary C: Proof of coverage D: Proof of a loss
D: Proof of a loss
An insurer's underwriter uses medical information obtained on an application to determine: A: Conversion privileges B: Cash values C: Dividend scales D: Risk classification
D: Risk classification
The USA Patriot Act was signed into law in response to A: July 4, 1976, United States Bicentennial Celebration B: December 7, 1941, Pearl Harbor Attack C: July 20, 1969, Moon Landing D: September 11, 2001 Attack
D: September 11, 2001 Attack
Which of the following statement is CORRECT about the amount of group life death benefit that the beneficiary report? A: The beneficiary must report the entire amount. B: The beneficiary must report only the amount that exceeds the cost basis. C: An inclusion ratio must be calculated to determine the reportable amount. D: The beneficiary does not need to report the amount.
D: The beneficiary does not need to report the amount
A disability buyout policy is designed to provide benefits to A: The disabled's spouse B: Pay the disabled's salary C: A corporation to obtain stockholders shares D: The healthy stockholders
D: The healthy stockholders
If an insured purchases an Annuity from which income is received, the insured is the: A: Receiver B: Beneficiary C: Annuitant D: Payee
c. Annuitant