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 Premiums, Proceeds and Beneficiaries 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 Premiums, Proceeds and Beneficiaries Questions & 100% Correct Answers- Latest Test | Graded A+ | Passed
 6 views  0 purchase
  • 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...

[Show more]

Preview 3 out of 21  pages

Document information

  • September 6, 2024
  • 21
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • life insurance premiums proceeds and beneficiari
  • over the course of a year which premium payment m

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 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,

what kind of beneficiary designation is this?




Tertiary


1|Page | Grade A+| 2024/2025

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




Contingent




Revocable




Irrevocable


✓ -:- 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




2|Page | Grade A+| 2024/2025

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

✓ -:- 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

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)

81298 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

Recently viewed by you

Exam (elaborations) ·

(0)

MIE 201 Test 3 Makanui Question and answers already passed 2023/2024
$11.49
  • (0)
  Add to cart