Life Insurance Policies

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an individual purchases a 100,000 joint life policy on himself and his wife. Eight years later, he died in an automobile accident. How much will his wife receive from the policy?

$100,000

The death protection component of Universal Life Insurance is always

Annually Renewable Term

Term policies are available as Level, Increasing and Decreasing. which policy component fluctuates depending on the policy type?

Death Benefit

Which Universal Life option has a gradually increasing cash value and a level death benefit?

Option A

to sell variable life insurance policies, an agent must receive all of the following except

SEC registration

A straight life policy has what typer of premium

a level annual premium for the life of the insured

which of the following features makes whole life insurance permanent protection?

coverage until death or age 100

which of the following is true about credit life insurance?

creditor is the insured

which of the following best describes annually renewable term insurance?

it is a level term insruace

what is the most common name for a single policy that is designed to insure two or more lives with a standard premium, and that pays the death benefit upon the first death?

join life

which of the following is an example of a limited-pay life policy?

life paid-up at age 65

if an employee wants to enter the group outside of the open enrollment period, to reduce adverse selection, the insurer may

require evidence of insurability

which of the following Is true reguarding a premium in a 10-year level premium policy?

the premium will remain level for 10 years


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