Life & Health Insurance Exam Questions and Verified Answers 100% Correct (2024 / 2025)
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Course
Health Insurance
Institution
Health Insurance
Life & Health Insurance Exam Questions and Verified Answers 100% Correct (2024 / 2025)
Question:
What does the ownership clause in a life insurance policy state?
Answer:
who the policyowner is and what rights the policyowner is entitled to
Question:
What action will an insurer take ...
Life & Health Insurance Exam
Questions and Verified Answers
100% Correct ()
Question:
What does the ownership clause in a life insurance policy state?
Answer:
who the policyowner is and what rights the policyowner is entitled to
Question:
What action will an insurer take if an interest payment on a policy loan is not
made on time?
Answer:
automatically add the amount of interest due to the loan balance
Question:
Additional coverage can be added to a Whole Life policy by adding a(n):
Answer:
decreasing term rider
,Question:
K pays on a 20,000 20-year endowment policy for 10 years and dies from an
automobile accident. How much will the insurance company pay the
beneficiary?
Answer:
20,000 death benefit
Question:
All of the following statements are true regarding a policy's Grace period,
EXCEPT:
Answer:
Past due premiums are waived
Question:
A Return of Premium Life insurance policy is:
Answer:
Whole life and Increasing term
Question:
The automatic premium loan provision is designed to:
Answer:
avoid a policy lapse
, Question:
When does a Guaranteed Insurability Rider allow the insured to buy
additional coverage?
Answer:
at future dates specified in the contract with no evidence of insurability
required
Question:
which of these actions is taken when a policyowner uses a Life insurance
policy as collateral for a bank loan?
Answer:
collateral assignment
Question:
which of the following statements about accumulated interest earned on
dividends from an insurance policy is TRUE?
Answer:
it is taxed as ordinary income
Question:
dividends paid from a life insurance policy are
Answer:
issued by the insurer
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