Life Insurance Principles
In a standard disability contract, the premiums are
Not tax deductible
Which renewal option does not guarantee renewal in a lousy insurance company to refuse renewal of a policy at any premium due date
Optional renewable
Which of the following are types of needs an insurance
Permanent, temporary, and savings
In which of the following instances with the premium be tax deductible
Premiums paid by an employer on a $30,000 group term life insurance plan for employees
When the insured initiate the cancellation of a policy, the owner and premium will be refunded on a
Short rate basis
If a producer wanted to educate his customer about the features of a variable annuity, which of the following features would need to be discussed?
Tax-deferred growth
In which of the following cases with any occupation disability income policy pay the benefits
The insured is unable to perform any jobs in the field related to the Insurance education and experience
Which of the following is not one of the four assumptions used in determining future earnings value
The projected future decline in earnings
What percentage of individually on disability income benefits as
0%
And insured pays a monthly premium of $1000 for her health insurance what is the duration of the grace. Under her policy
10 days
Under which condition with an employee's group medical benefits be exempt from income taxes
And employees group medical benefits are generally exempt from taxation is income
Which of the following is true regarding inpatient hospital care for HMO members
Care can be provided outside the service area
Prior to issuance of long-term care policy to an applicant age 80 or older, the insurer must obtain all of the following except
Dates of previous doctor visit
Which is true about the cash surrender nonforfeiture option
Find exceeding the premium paid or taxable as ordinary income
We're doing business in the state, and insurance company that is formed under the laws of another state is known as what type of ensure
Foreign