Life Insurance Exam Study Guide
Cash option
An insured receives an annual life insurance dividend check. What term best describes this arrangement? A. Reduction of Premium B. Annual Dividend Provision C. Accumulation at Interest D. Cash option
An unfair trade practice
If an insurance company makes a statement that its policies are guaranteed by the existence of the Insurance Guaranty Association, that would be considered
It may last for the lifetime of the annuitant
Which of the following is true regarding the annuity period? A. It may last for the lifetime of the annuitant. B. During this period of time the annuity payments grow interest tax deferred. C. It is also referred to as the accumulation period. D. It is the period of time during which the annuitant makes premium payments into the annuity.
