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Connecticut Life Insurance Exam Questions And 100% Correct Answers Latest Update
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Connecticut Life Insurance Exam Questions And 100% Correct Answers Latest Update...
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Connecticut Life Insurance Exam Questions And 100%Correct Answers Latest Update
What is the purpose of the Connecticut Life and Health Insurance Guaranty
Association?
Protects policyowners against insolvent insurance companies
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If an employer decides to cancel a group life insurance plan, it must give at least --- days
notice to the employees prior to the date of cancellation or discontinuation.
15
Rebating is
an illegal practice in Connecticut
G bought a Family Income policy at age 40. The policy had a 20-year rider period. If G
died at age 50 how long would G's family receive income?
10 years
Which provision prevents an insurer from changing the contract terms with the
policyowner by making references to documents not included within the policy itself?
Entire Contract provision
A statement by an applicant for insurance in an application for insurance, that must be
true to the best of one's knowledge and which becomes part of the contract is called
a representation
An underwriter decides that an applicant presents a different than standard risk
,because of a health condition. That policy can be issued with a(n)
additional premium
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Which of the following is a component of a Variable Life policy?
A fixed, level premium
o
o
o
All of the following Settlement options entail the systematic liquidation of the death
proceeds in the event of the insured's death EXCEPT
Interest only
o
o
o
Which type of life insurance beneficiary needs his/her consent in the event a change of
beneficiary is attempted by the policyowner?
Irrevocable beneficiary
Which of the following terms is properly used to describe the underwriter's analysis of
information provided on an application for life insurance?
Risk classification
S, age 40, wishes to buy a Life Insurance policy that would allow increases or decreases
in the amount of insurance according to changes in his needs. The policy that would be
most suitable for S would be
Universal Life
, The following would be an example of rebating
returning a portion of a premium as inducement to purchase insurance
with respect to income tax, what is the taxation status of policyowner dividends?
Interest on accumulations is taxed
D has a Whole Life policy that was bought 10 years ago. In the case where the premium
payments immediately cease and D does nothing else, which of the following
Non-forfeiture Options will the insurer most likely continue with?
Extended term
B has a Whole Life policy that has a guaranteed insurability option. He can buy, without
evidence of insurability, stated amounts of additional whole life coverage at specified
times.
****
What is the idea behind level premiums?
The early years pay more than what is required
P is the insured on a participating life policy. Which of the following is true if P's
premiums are waived due to a disability?
P will still be credited with declared dividends
All of the individuals insured under a group contract will be given a
certificate
Why must an applicant fill out every question on an application for insurance?
The statements and representations on the application are part of the consideration to
issue a policy
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