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
Kansas Life & Health Insurance Final Exam (1) Questions & 100% Verified Correct Answers with complete solutions (Latest update $7.99   Add to cart
Quickly navigate to
Preview
  2.  
  3. Insurance
  4.  
  5. Insurance
  6.  
  7. Insurance

Exam (elaborations)

Kansas Life & Health Insurance Final Exam (1) Questions & 100% Verified Correct Answers with complete solutions (Latest update

 4 views  0 purchase
  • Course
  • Insurance
  • Institution
  • Insurance

Kansas Life & Health Insurance Final Exam (1) Questions & 100% Verified Correct Answers with complete solutions (Latest update

Preview 2 out of 12  pages

Document information

  • August 14, 2024
  • 12
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • kansas life health insurance final exam 1

Written for

  • Insurance
All documents for this subject (256)

Seller

avatar-seller
topgradesdr

Reviews received

Content preview

Kansas Life & Health Insurance Final Exam
Anytime - ANS-When can a policy owner change a revocable beneficiary?

Revocable - ANS-J would like to maintain the right to change beneficiaries. Which beneficiary
designation should be used?

Revocable Beneficiary - ANS-M purchased an Accidental Death and Dismemberment (AD&D)
policy and named his son as beneficiary. M has the right to change the beneficiary designation
at anytime. What type of beneficiary is his son?

the policy owner may change the beneficiary at any time without notifying or getting permission
from the beneficiary. - ANS-revocable beneficiary

Proceeds will be paid to K's estate if P dies within a specified time - ANS-K is the insured and P
is the sole beneficiary on a life insurance policy. Both are involved in a fatal accident where K
dies before P. Under the Common Disaster provision, which of these statements is true?

If the primary beneficiary dies before the insured - ANS-How would a contingent beneficiary
receive the policy proceeds in an Accidental Death and Dismemberment (AD&D) policy?

Normally, a guardian is required to be appointed in the Beneficiary clause of the contract -
ANS-Which statement is true regarding a minor beneficiary

Beneficiaries are not required to sign an insurance application - ANS-A life insurance application
must be signed by all of these EXCEPT

A conditional receipt indicates that certain conditions must be met in order for the insurance
coverage to go into effect. - ANS-K applies for a life insurance policy on herself and submits the
initial premium with the application. She is given a receipt by the agent stating that coverage
begins immediately if the application is approved. What kind of receipt was used?

Schedule another appointment with the applicant to complete the unanswered questions -
ANS-P is a producer who notices 5 questions on a life application were not answered. What
actions should P take?

Free-look period has expired - ANS-M completes an application for life insurance but does not
pay the initial premium. All of these actions must occur before M's policy goes into effect
EXCEPT

Applicant's physician - ANS-An applicant's medical information received from the Medical
Information Bureau (MIB) may be furnished to the

, Collect initial premium along with a signed health statement - ANS-On August 6, D submitted an
application for a $50,000 Life Insurance policy and did not pay the initial premium. On August
18, D went to his doctor complaining of chest pains and some tests were given by the doctor.
The life policy was delivered by the producer on August 20 and D explains what had recently
taken place with the doctor. What action should the producer then take?

Insurance contract to the proposed insured - ANS-What is being delivered during a policy
delivery?

Applicant's signature on application - ANS-Before a life insurance policy is issued, which of
these components of the contract is required?

Everyone must be covered in the group - ANS-Which of the following is an important
underwriting principle of group life insurance?

the entire cost of the plan is paid for by the employer - ANS-A noncontributory group term life
plan is characterized by

certificate - ANS-A person who is insured within a group contract will be given a

annually renewable term - ANS-Group life insurance policies are generally written as

Accidental - ANS-Which provision is NOT a requirement in a group life policy?

Contributory - ANS-If its employees share in the cost of insurance, what type of group life
insurance plan would a corporation have?

Immediate annuity - ANS-W is a 39-year old female who just purchased an annuity to provide
income for life starting at age 60. All of these would be acceptable annuity choices EXCEPT
a(n)

Variable - ANS-What type of annuity has a cash value that is based upon the performance of it's
underlying investment funds?

Life Annuity with period certain - ANS-T has an annuity that guarantees an income payment for
the rest of his life. The contract also guarantees that if T dies before receiving payments for 20
years, the remaining payments will be paid to his son for the balance of the 20 years. What type
of annuity is this

Payments are made to an annuitant for life - ANS-Which of these statements concerning an
Individual Straight Life annuity is accurate?

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 topgradesdr. 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)

76799 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