Texas Life and Health

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

All of the following statements concerning Waiver of Premium riders are correct EXCEPT

An insured who has recovered from a disabling injury will be required to repay the insurer for any premiums that were waived.

Under which nonforfeiture options does the company pay the company pay the surrender value have no further obligations to the policyowner?

Cash surrender

When a policy is surrendered for its cash value

Coverage ends and the policy cannot be reinstated.

When the policyowner specifies a dollar amount in which installments are to be paid,he/she has choosen which settlement option?

Fixed amount

At the time Molly Francis purchased her life insurance policy, she added a rider that will allow her to purchase additional insurance in the future without having to prove insurability. This rider is called

Guaranteed insurability option

Which provisions of a life insurance policy states the insurer's duty to pay benefits upon the death of the insured, and to whom the benefits will be paid?

Insuring clause

Which of the following is true about the premium on the children's rider in a life insurance policy?

It remains the same no matter how many children are added to the policy.

Which life insurance settlement option guarantees payments for the lifetime of the receipt, but also specifies a guaranteed period, during which, if the original receipt dies, the payments will continue to a a designated beneficiary?

Life income with period certain

An insured is involved in an accident. He is informed by his insurance company that he will receive the principal amount due to his accidental death and dismemberment rider on his life insurance policy. For what losses could the insured generally receive the principal amount of the policy?

Loss of vision in both eyes

Z falls from the roof of his house while fixing it and damages his spinal column enough to render him disabled for a year. His insurance policy carries a Disability Income Benefit rider. Which of the following benefits will Z receive?

Monthly premium waiver and monthly income

Who controls change in premium payments, face, value, loans, and policy plans?

Policyowner

Which of the following factors determines the amount of each installment paid in a Life Income Option arrangement?

Recipient's life expectancy and amount of principal

Harry is covered under an Accidental Death and Dismemberment policy with a principal amount of $50,000. Harry lost both arms in an auto accident. How much will the policy most likely pay?

The full benefit (100% of principal sum) due to loss of both limbs.

The sole beneficiary of a life insurance insurance policy dies before the insured. If the policyowner fails to change the beneficiary before the insured's death, the proceeds of the policy will go to

The insured's estate

What is the advantage of reinstating a policy instead of applying for a new one?

The original age is used for premium determination


Set pelajaran terkait

Java 8 Programming I - Chapter 3

View Set

Chapter 5: Evaluating Research Review

View Set

Sir Gawain and the Green Knight Parts 3 Study Guide

View Set

Chem152: Chapter 6, Thermodynamics (& Chapter 9.10 Bond Energies and Lengths)

View Set

history final multiple choice and t/f

View Set

Chapter 28: Nursing Management: Patients With Urinary Disorders

View Set