Guarantee 2 notes
Which of the following riders provides for the payment of part of the policy death benefit if the insured is diagnosed with a terminal illness that will result in two years?
Living Needs Rider
Under ACA, when would pregnancy be considered a pre-existing condition?
Never
The reduction of premium options uses the dividend to reduce
Next year's premium
What type of insurer uses a formal sharing agreement?
Reciprocal
which of the following concerning the medical information bureau is correct
The MIB assists underwriters in evaluating risks
What is the exclusion ratio used to determine?
The annuity benefit to be excluded from taxes
Which is true regarding taxation of accelerated benefits paid under a life insurance policy?
They are received tax free
Which rider pays a death benefit that doubles or triples the face amount if the insured's death was caused by an accident?
accidental death rider
Any person legally capable of making a policy is considered
an insurer
Concerning the Family Protection Policy, all of the following are true except
children, upon reaching the age of majority, are permitted to convert to an individual policy with proof of insurability
A whole life policy is surrendered for a reduced paid up policy. The cash value in the new policy will...
continue to increase
If an agent follows the rules and terms of his agent contract, he is exercising his
express authority
The agent's statement is
not included in the "entire contract"
Key person insurance can provide protection for all of the following economic losses to a business except
pay the death benefit to the estate of the insured
All of the following are true of a qualified plan except
the income at retirement is tax free