Life Insurance Policy's
A man decided to purchase a $100000 annually renewable term life policy to provide additional protection until his children finished college. He discovered that his policy
Required a premium increase each renewal
When would a 20-pay whole life policy endow?
When the insured reaches age 100
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.
Graded Premium Whole Life policy premiums are typically lower initially but gradually increases for a period of 5-10 years. After the period of increase the premiums will
Be level there after
The death benefit under the universal life Option B
Gradually increases each year by the amount that the cash value increases
The least expensive first year premium is found in which of the following policies ?
Annually renewable term
To sell variable life insurance policies, an agent must receive all of the following EXCEPT
A SEC registration it is for securities not agents
Which of the following best describes annually term insurance
It is level term insurance
Your client wants both protection and savings from the insurance, and is willing to pay premiums until retirement at age 65. What would be the right policy for this client?
Limited pay whole life
Which option for universal life allow the beneficiary to collect both the death benefit and cash value upon the death of the insured ?
Option B
Which type of life insurance policy generates immediate cash value ?
Single Premium
An employee is insured under her employers group life plan. If she terminated her group coverage which of the following statements is INCORRECT
The insured may choose to convert to term or permanent individual coverage
In an Adjustable Life policy all of the following can be changed by the policy owner EXCEPT
Type of investment
Which of the following statements about group life is correct
The cost of coverage is based on the ratio of men and women in the group.
