TEXAS LIFE AND HEALTH INSURANCE 2023 EXAM BUNDLE, ALL GRADED A!!

At what point must a life insurance applicant be informed of their rights that fall under the Fair Credit Reporting Act? - ANSWER Upon completion of the application Who elects the governing body of a mutual insurance company? - ANSWER policyholders An insurance applicant MUST be informed of an...

Who is considered a field underwriter? - ANSWER An agent When must insurable interest exist in life insurance? - ANSWER Application or issue date If no receipt is issued at the time of application, a statement of good health is usually required at the time of? - ANSWER Policy delivery The M...

Sandra Timms, age 27, is advised by her producer to purchase Life insurance to cover a 20-year-amortized $50,000 business-improvement loan. Which of the following plans would adequately protect Ms. Timms at the minimum premium outlay? - ANSWER A- $50,000 Whole Life policy B- $50,000 Level Term poli...

An annuity promises that, if the annuitant dies before receiving payments equal to the correct value, the payments will be continued to a beneficiary until an amount equal to the contract value has been paid. This type of annuity is called An installment Refund annuity A Straight Life annuity ...

If, at the time of an insured's death, the insurance company discovers that the insured's age was misstated on the application for life insurance, the company will most likely - ANSWER pay the policy proceeds in the amount the premiums would have purchased at the insured's actual age The provi...