100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
life insurance exam Questions & 100% Correct Answers- Latest Test | Graded A+ | Passed $11.49   Add to cart
Quickly navigate to
Preview
  2.  
  3. Life Insurance
  4.  
  5. Life Insurance

Exam (elaborations)

life insurance exam Questions & 100% Correct Answers- Latest Test | Graded A+ | Passed
 9 views  0 purchase
  • Course
  • Life Insurance
  • Institution
  • Life Insurance

The key factor of representation that allows the intraparty to resend the contract is -:- If the representation is false any marital point The written instrument in which a contract of insurance is set forth is known as -:- A policy What is the term for a sale campaign conducted through mail ...

[Show more]

Preview 2 out of 6  pages

Document information

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

Subjects

  • life insurance exam questions 100 correct answ
  • the key factor of representation that allows the i

Written for

  • Life Insurance
  • Life Insurance

Seller

avatar-seller
TestTrackers

Reviews received

Content preview

2024 /2025 | © copyright | This work may not be copied for profit gain | Excel!



Life insurance Policies Questions & 100%
Correct Answers- Latest Test | Graded A+ |
Passed
Insured buys a 5 year level premium term policy with a face amount of $10000. Policy also

contains renewability and convertibility options. When insured renews in 5 years, what

happens to the premium?


✓ -:- It will increase because the insured will be 5 years older than when the policy

was originally issued. It will remain level during the term of the policy, but upon

renewal it will be based on the insured's attained age.




What makes whole life permanent protection?


✓ -:- coverage until death or until age 100




An insured has a policy that requires him to only pay premiums for a specified number of

years until the policy is paid up. What kind of policy is it?


✓ -:- Limited Pay Life




What distinguishes a group life from individual life policy?


✓ -:- reduced adverse selection. Group life requires a number of participants

depending on the premium.



1|Page | Grade A+| 2024/2025

, 2024 /2025 | © copyright | This work may not be copied for profit gain | Excel!

A return of premium is referred to as what type of policy?


✓ -:- Increasing: pays an additional benefit to the beneficiary equal to death benefit

plus premiums paid.




If employee wants to enter group insurance outside of open enrollment period, insurer may

require


✓ -:- proof of insurability




Whats the difference between joint life and survivorship insurance?


✓ -:- Joint life pays a death benefit on the first death, survivorship pays on the last.




What are the ways to determine interest rates in Universal life policy?


✓ -:- maintain profit margin between interest credited on in force policies and

interest earned, declare annual rate by companies board of directors, tie current

interest rates to treasury bills.




What is not a way to determine an interest rate in a Universal Life policy?


✓ -:- Estimate market conditions for the life of the policy.




2|Page | Grade A+| 2024/2025

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

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

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

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 TestTrackers. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $11.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

75632 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$11.49
  • (0)
  Add to cart