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General Life Insurance Concepts Practice Questions and Answers
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General Life Insurance Concepts Practice Questions and Answers In which of the following instances would the premium be tax deductible? - Answer️️ - Premiums paid by an employer on a $30,000 group term life insurance plan for employees The provision in a health insurance policy that ensure...

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  • September 1, 2024
  • 6
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • general life insurance concepts practice questions

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  • Life insurance
  • Life insurance

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©SOPHIABENNETT
2024/2025 ACADEMIC YEAR




©SOPHIABENNETT 9/1/24 2024/2025

, General Life Insurance Concepts
Practice Questions and Answers


In which of the following instances would the premium be tax deductible? - Answer✔️✔️-

Premiums paid by an employer on a $30,000 group term life insurance plan for

employees

The provision in a health insurance policy that ensures that the insurer cannot refer to

any document that is not contained in the contract is the - Answer✔️✔️-Entire contract

clause.

Under the Fair Credit Reporting Act, if the consumer challenges the accuracy of the

information contained in his or her report, the reporting agency must - Answer✔️✔️-

Respond to the consumer's complaint.

An insured had a $10,000 term life policy. The annual premium of $200 was due on

February 1; however, the insured failed to pay the premium. He died on February 28.

How much would the beneficiary receive from the policy? - Answer✔️✔️-$9,800

The insured had his wife named as the beneficiary of his life insurance policy. To

ensure that his wife had income for life after the insured's death, he chose the life

income settlement option. The amount of payments will be determined by taking into

account all of the following EXCEPT - Answer✔️✔️-The insured's age at death.

Which of the following applies to partial disability benefits? - Answer✔️✔️-Payment is

limited to a certain period of time.

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