Alabama life and health Exam Practice Questions and Answers | Graded A+
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Course
Alabama Insurance
Institution
Alabama Insurance
Alabama life and health Exam Practice
Questions and Answers | Graded A+
Billy is the owner of a life insurance policy and has chosen a policy
settlement option under which the company will pay the beneficiary (his
widow) an income each month for as long as she lives. Payment stops at
her death...
Alabama life and health Exam Practice
Questions and Answers | Graded A+
Billy is the owner of a life insurance policy and has chosen a policy
settlement option under which the company will pay the beneficiary (his
widow) an income each month for as long as she lives. Payment stops at
her death. Which settlement option has Billy selected?
A. Fixed amount option
B. Fixed period option
C. Interest only option
D. Life income option - Answer✔️✔️-D. Life income option
A man with an Accidental Death & Dismemberment (AD&D) policy
having a Principal Sum of $100,000 and a Capital Sum of $50,000 loses a leg
due to a blood clot which was not due to an accident. The policy will pay
the kind of life insurance that acquires no cash value is
A. variable life.
B. whole life.
C. term life.
D. universal life. - Answer✔️✔️-term life
If administrative action is taken against you, or you are criminally
prosecuted in another jurisdiction, you have how long to submit notice to
the Alabama Commissioner?
A. 30 days
B. 60 days
C. The end of the license period
D. Immediately - Answer✔️✔️-30 days
An immediate annuity with quarterly payments will begin making
payments
D. 1 year after the annuity is purchased. - Answer✔️✔️-. 3 months after the
annuity is purchased.
A disability income policy typically covers
A. the children but not the parents.
B. the parents but not the children.
C. every member of the family.
D. just the wage earners. - Answer✔️✔️-just wage earners
All of the following would likely be eligible for group life insurance
EXCEPT:
A. all the uninsured residents of the Golden Years Nursing Home.
B. all the state's public school teachers.
C. employees of a nuclear power plant.
D. members of a coal miner's union. - Answer✔️✔️-all the uninsured
residents of the golden years nursing home
If the consideration clause states that the premium payment keeps the
policy in force until the next premium is due plus 30 days thereafter, the
policy
A. is not authorized to be sold in most states.
B. must be modified only by an authorized agent of the company.
C. contains a grace period.
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