quiz for life only

individual purchased a $100,000 joint life policy 8 years later he died in an automobile accident how much will his wife receive from the policy

$100,000

at least 30 an applicant wants to start an insurance program the realizing that his insurance needs will likely change he wants a policy that can be modified to accommodate those changes as they occur which of the following policies would most likely that his needs?

adjustable life

level term insurance provides a level death benefit and a level premium during the policy term pay the policy renews at the end of the specified period of the time the policy premium will be?

adjusted to the insured's age at the time of the renewal

all other factors being equal the last expensive first-year premium payment is found in

annually renewable term

which of the following would be the beneficiary in credit life insurance

creditor

which special policy combines decreasing term insurance with whole life insurance to provide the insurance family with a monthly income upon the death of the insured while maintaining permanent coverage until the end of the income

familia income policy

w owns a policy in which she is covered as the breadwinner with permanent insurance and with decreasing term insurance in the form of a rider what type of policy is this

family income policy

which Rider when attached to a permanent life insurance policy provides an amount of insurance on every family member

family term Rider

both universal life and variable universal life have a

flexible premium

what kind of policy does not typically require proof of insurability

group insurance

what kind of policy issues certificates of insurance to insureds?

group insurance

a father purchases a life insurance policy on his teenage daughter and adds the payor benefit Rider in which of the following scenarios will the writer waive the payment of the premium

if the father I disabled for more than 6 months

a return of premium term life policy is written as what type of term coverage

increasing

an insurer and his spouse own a home when the insured dies the insurer pays the remaining balance of his home alone which type of life insurance provision writer does this describe

mortage redemption

which of the following allows the insurer to relieve a minor insured from the premium payments if the Minor's parents have died or become disabled

payor benefit

a domestic insuer issuing variable contracts must establish one or more

separate accounts

an insurance policy that only requires a payment of premium at its inception provides Insurance protection for the life of the insured and matures at the insurance age 100 is called

single premium whole life

all of the following are true about variable products except

the premiums are invested in the insurer's general account

The breadwinner that is insured by a family policy dies what rights are provided to the family members that are covered under the policy

they can convert their coverage to permanent life insurance without evidence of insurability

Credit Life Insurance

Insures the life of a debtor

Variable Life Insurance is based on what kind of premium

Level fixed

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