life insurance

Lakukan tugas rumah & ujian kamu dengan baik sekarang menggunakan Quizwiz!

which of the following is an example of a Limited-Pay Life policy

20-Pay Life

At age 30, Tom Morris wishes to purchase a Whole Life policy. His producer explains that he can pay for the policy in several ways. One method is called 20-Pay Life, and another, Straight Life. Tom wishes to know which plan will accumulate cash value at a faster rate in the early years of the policy. Which of the following would be the producer's most appropriate response?

20-Pay Life will accumulat cash value faster

Sandra Timms, age 27, is advised by her producer to purchase Life insurance to cover a 20-year-amortized $50,000 business-improvement loan. Which of the following plans would adequately protect Ms. Timms at the minimum premium outlay?

A $50,000 Decreasing Term policy for 20 years

You have a client that is a real estate agent. Which of the following types of permanent protection is best for this type of client?

Adjustable life

Which of the following contracts requires that a series of benefit payments be made at specified intervals?

Annuity

An Annuity is designed to provide which of the following financial features? I. The liquidation of principal and interest II. Favorable tax treatment III. The creation of an estate

I. The liquidation of principal and interest II. Favorable tax treatment

A 45-year old customer who is seeking to supplement his retirement income at age 65 would not buy a:

Immediate Annuity

Most Term Life Insurance

Is convertible to permanent whole life without a physical exam

Which of the following statements about a Renewable Term policy is true?

It is renewable at the option of the insured

Which of the following is an example of a Limited-Pay Life policy?

Life Paid-Up at Age 65

Which of the following statements is true about the premium payment schedule for a whole life policy

Premiums are payable throughout the insured's lifetime, and coverage continues until the insured's death

A life insurance policy that covers two parties, but only pays when the last party dies is known as:

Survivor ship Life

Which of the following types of insurance policies would provide the greatest amount of protection for a temporary period during which an insured will have limited financial resources?

Term

If a person wants to invest a lump sum in an annuity that may appreciate along with market and economic conditions, they should buy a

Variable Annuity

A life insurance policy whose cash value will fluctuate depending upon the performance of a separate account is

Variable Life

Which of the following policies provides the greatest amount of protection for an insured's premium dollar as well as some cash accumulation

Whole Life

Which of the following individual policy conversions is usually permitted without any evidence of insurability?

conversion from a term policy to a whole life policy

A life insurance policy that combines term insurance protection, a flexible premium, and cash value accumulation is:

universal Life


Set pelajaran terkait

Kazman 311 Chapter 5 exam question bank

View Set

Ch7. Motivation 2: LO7.3 Expectancy Theory of Motivation/Vroom's Expectancy Theory

View Set

Pr 1 (Research topics to be avoided, basic reminders in writing research title, similarities of qualitative and quantitative research)

View Set

Ch. 23 Conditions Occurring After Delivery

View Set

Creating environments for learning Chapter 1

View Set