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Life Insurance Premiums, Proceeds and Beneficiaries Practice Questions and Answers | 100% Pass
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Life Insurance Premiums, Proceeds and Beneficiaries Practice Questions and Answers | 100% Pass Over the course of a year, which premium payment mode is most expensive? Monthly Quarterly Semi-Annually Annually - Answer️️ -Monthly Sharon is the policyowner of a $50,000 life insurance poli...

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Document information

  • September 1, 2024
  • 16
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • life insurance premiums proceeds and beneficiarie

Written for

  • Life insurance
  • Life insurance

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SophiaBennett

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©SOPHIABENNETT
2024/2025 ACADEMIC YEAR




©SOPHIABENNETT 9/1/24 2024/2025

,Life Insurance Premiums, Proceeds and
Beneficiaries Practice Questions and
Answers | 100% Pass


Over the course of a year, which premium payment mode is most expensive?




Monthly



Quarterly



Semi-Annually



Annually - Answer✔️✔️-Monthly

Sharon is the policyowner of a $50,000 life insurance policy. Her son, Mike, is the

beneficiary. If Sharon MUST obtain Mike's signature in order to change the beneficiary,

what kind of beneficiary designation is this?



Tertiary



Contingent



Revocable

Page 1 of 15

, Irrevocable - Answer✔️✔️-Irrevocable

Level premium term life insurance policies



build cash value in a separate account



automatically convert to permanent insurance at a predetermined date



automatically renew at predetermined dates



have premiums that are averaged over the policy period - Answer✔️✔️-have premiums

that are averaged over the policy period

Which settlement option involves having the proceeds remain with the insurer and

earnings paid on a monthly basis to the beneficiary?



interest only



dividends only



extended interest



fixed period - Answer✔️✔️-interest only




Page 2 of 15

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