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Life Insurance Policies Questions & 100% Correct Answers- Latest Test | Graded A+ | Passed
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A Whole Life policy furnishes a form of Permanent protection because it never has to be: A. Used for a loan B. Reduced C. Renewed or converted D. Reinstated -:- Renewed or converted At age 30, Clark wishes to purchase a W.L policy. His producer explains that he can pay for the policy in ma...

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  • September 6, 2024
  • 18
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • life insurance policies questions 100 correct
  • a whole life policy furnishes a form of permanent

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  • Life Insurance
  • Life Insurance

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



Life Insurance Policies Questions & 100%
Correct Answers- Latest Test | Graded A+ |
Passed
A Whole Life policy furnishes a form of Permanent protection because it never has to be:


A. Used for a loan


B. Reduced


C. Renewed or converted


D. Reinstated


✓ -:- Renewed or converted




At age 30, Clark wishes to purchase a W.L policy. His producer explains that he can pay for

the policy in many ways. One method is called 20-Pay Life, and another, Straight Life. Clark

wishes to know which plan will accumulate cash value at a faster rate in the early years of

the policy. Which of the following would be the producer's most appropriate response:


A. "The rate of cash-value accumulation depends on the profitability of the insurance

company."


B. "Both plans will accumulate cash value at the same rate."


C. "20-Pay Life will accumulate cash value faster."


D. "Straight Life will accumulate cash value faster."



1|Page | Grade A+| 2024/2025

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

✓ -:- "20-Pay Life will accumulate cash value faster."




What type of Life insurance has a rate of return that may keep up with inflation, but will

never fall below the minimum guaranteed in the policy:


A. Equity indexed life


B. Adjustable life


C. Whole life


D. Variable life


✓ -:- Equity indexed life




Which of the following statements about Adjustable Whole Life is true:


A. In order to increase the face amount of coverage a physical exam is required


B. Adjusting the premium will also adjust the face amount


C. Reducing the premium will increase the face amount


D. Increasing the premium will lengthen the premium payment period


✓ -:- Adjusting the premium will also adjust the face amount




All of the following are true regarding Universal life insurance policies, EXCEPT:


A. They have a flexible premium


2|Page | Grade A+| 2024/2025

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

B. They have no minimum guaranteed rate of return


C. Partial surrenders are permitted without paying tax on the earnings


D. They are also known as "interest sensitive" whole life


✓ -:- They have no minimum guaranteed rate of return




Which of the following best describes the normal Conversion benefit available to

terminated employees under a Group Life insurance policy?


A. The employee may convert to an indiv Permanent Life policy w/in 31 days by submitting

evidence of insurability


B. The employee may convert to an indiv Term policy w/in 31 days without submitting

evidence of insurability


C. The employee may convert to an indiv Permanent Life policy w/in 31 days w/o submitting

evidence of insurability


D. The employee may convert to an indiv Term policy w/in 31 days by submitting evidence

of insurability


✓ -:- The employee may convert to an indiv Permanent Life policy w/in 31 days w/o

submitting evidence of insurability




All of the following are true regarding survivorship life insurance policies, EXCEPT:


A. They pay a death benefit only when the first party dies


3|Page | Grade A+| 2024/2025

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