life regulations
what describes the specific information about a policy
Policy summary
which of the following will be included in a policy summary
Premium amounts and surrender values
how much time does the insurer have to pay the death benefit to the beneficiary of a life insurance policy after the receipt of proof of death
2 months
how long is a free look period for replacement of policies?
20 day
in the event an employer wishes to purchase life insurance on an employee, within how many days of receiving written notice must the employee consent to be insured?
30 days
at times it is possible for a life insurance agent to affect savings of premium rates by backdating an application for life insurance. what is the maximum amount of time that an application may be backdated
6 months
the term illustration in a life insurance policy refers to
A presentation of nonguaranteed elements of a policy.
which of the following is not a type of group eligible for group life insurance
a social group
if I death benefit from a life insurance policy is not paid out in a timely manner when does interest begin to accrue
after 30 days from the day the benefit is due
all of the following could qualify as a group for the purpose of purchasing group life insurance except
an association formed one year ago
which of the following would be considered a violation of rule 13 life insurance advertising
calling an insurance policy an investment plan
when an applicant purchased a life insurance policy the agent dated the application for months prior. when asked by the applicant, the agent said she was allowed to backdate the policies up to 6 months if it would
lower the premium
which of the following would be in violation of producers duties under rule 24 life insurance solicitation
producing referring to themselves as a financial consultant
according to underwriting rules pertaining AIDS and HIV all of the following questions will be allowed on the application for life or health insurance except
questions directed to determine the applicant's sexual orientation
which of the following is true under rule 48 accelerated death benefits
the benefit may be triggered by terminal illness
