100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Life & Health Insurance Exam Questions and Verified Answers 100% Correct (2024 / 2025) $7.99   Add to cart

Exam (elaborations)

Life & Health Insurance Exam Questions and Verified Answers 100% Correct (2024 / 2025)

 12 views  0 purchase
  • 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 ...

[Show more]

Preview 3 out of 24  pages

  • October 8, 2024
  • 24
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Health Insurance
  • Health Insurance
avatar-seller
quiz_bit
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

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 quiz_bit. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $7.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

72042 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
$7.99
  • (0)
  Add to cart