Life Insurance Questions & 100% Correct Answers- Latest Test | Graded A+ | Passed
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Course
Life Insurance
Institution
Life Insurance
Which nonforfeiture option provides coverage for the longest period of time?
A. Paid-up option
B. Accumulated at interest
C. Reduced paid-up
D. Extended term
-:- C. Reduced paid-up
Which of the following is true about the premium on the children's rider in a life insurance
policy?
A. It r...
Life Insurance Questions & 100% Correct
Answers- Latest Test | Graded A+ | Passed
Which nonforfeiture option provides coverage for the longest period of time?
A. Paid-up option
B. Accumulated at interest
C. Reduced paid-up
D. Extended term
✓ -:- C. Reduced paid-up
Which of the following is true about the premium on the children's rider in a life insurance
policy?
A. It remains the same no matter how many children are added to the policy.
B. It decreases when the oldest child reaches the age of 21.
C. It increases when a newborn baby is added to the policy.
D. It decreases when an adopted child is added to the policy.
✓ -:- A. It remains the same no matter how many children are added to the policy.
The premium does not change on the inclusion of additional children; it is based on an
The sole beneficiary of a life insurance policy dies before the insured. If the policyowner
fails to change the beneficiary before the insured's death, the proceeds of the policy will go
to
A. Probate.
B. The state.
C. The beneficiary's estate.
D. The insured's estate.
✓ -:- D. The insured's estate.
Which of the following statements is TRUE concerning irrevocable beneficiaries?
A. They can be changed only with the written consent of that beneficiary.
B. They may be changed at any time.
C. They can never be changed.
D. They may be changed only on the anniversary date of the policy.
✓ -:- A. They can be changed only with the written consent of that beneficiary.
If a policy has an irrevocable beneficiary designation the beneficiary can only be changed
with written permission of the beneficiary.
4|Page | Grade A+| 2024/2025
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