Life Insurance Final Study
whole life insurance
death benefit is guaranteed
in north carolina, for licensing purposes, an applicant is considered a resident if he or she
lives in north carolina or any county outside this state that borders north carolina
a viatical settlement does not mean
a written agreement entered into between a viator and a person having an insurable interest in the viator's life
for any person to receive commission from the sale of insurance
they must be licensed for that line of insurance
important fact about the financial status of an insurer is deliberately withheld. this is called
false financial statement
key person insurance cannot
pay the death benefit to the estate of the insured
equity indexed annuity will grow based upon
performance of a recognized index
annually renewable term insurance
proof of insurance is not required
With Adjustable Life, the owner can change all of the following EXCEPT
the insured
the commissioner must give X days written notice of all hearings
10 days (may not hold hearing immediately after determining that a violation has occured)
for a person to receive commissions from the sale of insurance
they must be licensed for that line of insurance
a married couple purchase a life insurance policy on their newborn baby. they are concerned about what would happen to the policy if either one of them were unable to continue making the premium payments due to death or disability. which policy rider should their agent recommend?
payor benefit - protection to insured minors. if life insurance is for child and the parent paying becomes