100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
Previously searched by you
XCEL CHAPTER 6 2024 UPDATE COMPREHENSIVE QUESTIONS AND VERIFIED CORRECT ANSWERS MOST TESTED TEST PRACTICE TEST PRACTICE GET IT 100% RIGHT$17.99
Add to cart
XCEL CHAPTER 6 2024 UPDATE
COMPREHENSIVE QUESTIONS AND VERIFIED
CORRECT ANSWERS MOST TESTED TEST PRACTICE
TEST PRACTICE GET IT 100% RIGHT
Expense factor - (correct answer) a measure of what it costs
an insurance company to operate, also known as the loading
charge
Premium mode - (correct answer) the frequency in which a
policyowner elects to pay premiums
Viatical settlement - (correct answer) an agreement under
which the owner of a life insurance policy sells the policy to
another person in exchange for a bargained for payment, which
is generally less than the expected death benefit under the
policy. They typically involve someone with a terminal illness
selling their existing life insurance policy to a third party for a
percentage of the death benefit
interest factor - (correct answer) a factor that is utilized to
provide a simple calculation for determining the amount of
, interest an insurance company can expect earn from investing
insurance premiums
class designation - (correct answer) a beneficiary
designation. Rather than specifying one or more beneficiaries
by name, the policy owner designates a class or group of
beneficiaries. For example, "my children."
beneficiary - (correct answer) the person or entity
designated in the policy to receive the death proceeds.
primary beneficiary - (correct answer) the first in line to
receive death benefit proceeds
secondary beneficiary - (correct answer) second in line to
receive death benefit proceeds
tertiary beneficiary - (correct answer) the third in line to
receive death benefit proceeds. If no one named, death benefit
will go to insured's estate
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller MEGAMINDS. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $17.99. You're not tied to anything after your purchase.