Life Insurance Premiums, Proceeds and Beneficiaries Questions & 100% Correct Answers- Latest Test | Graded A+ | Passed
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Course
Life Insurance
Institution
Life Insurance
Over the course of a year, which premium payment mode is most expensive?
Monthly
Quarterly
Semi-Annually
Annually
-:- 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 benef...
Life Insurance Premiums, Proceeds and
Beneficiaries Questions & 100% Correct
Answers- Latest Test | Graded A+ | Passed
Over the course of a year, which premium payment mode is most expensive?
Monthly
Quarterly
Semi-Annually
Annually
✓ -:- 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,
✓ -:- 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
✓ -:- interest only
If the beneficiary dies from the same accident as the insured individual, the insurer will
proceed as if
the insured outlived the beneficiary
3|Page | Grade A+| 2024/2025
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