CA PSI SITE - LIFE, ACCIDENT AND HEALTH AGENT EXAMINATION (LIFE AGENT) LATEST ACTUAL EXAM 100 QUESTIONS AND CORRECT DETAILED ANSWERS
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CA PSI
Institution
CA PSI
CA PSI SITE - LIFE, ACCIDENT AND HEALTH AGENT EXAMINATION
(LIFE AGENT) LATEST ACTUAL EXAM 100 QUESTIONS
AND CORRECT DETAILED ANSWERS
Admitted Insurance Company vs. Non-Admitted Insurance Company - Answer️️ -An
admitted insurance company is authorized to transact insurance in California bec...
plan, other insurance, liquid investments, separate savings)
Waiver of Premium - Answer✔️✔️-Life Insurance Disability Rider
If the insured becomes totally disabled, the insurer will waive premiums for the duration
of the disability or the end of the policy, whichever occurs first.
To qualify for the waiver, the insured must be disabled for a waiting period of 3-6
months.
The policyowner must continue to pay premiums during the waiting period, but once
eligible, the waiver is retroactive to the start of the disability and the premiums will be
refunded.
During the disability, the insured will credit the premiums to the policy and all benefits,
such as cash value accumulation and dividend payments, will continue.
Disability Income Rider - Answer✔️✔️-Life Insurance Disability Rider
In the event of total disability and after the initial waiting period (such as 6 months),
premiums are waived and the insured is paid a monthly income.
The monthly disability income benefit is typically limited to a percentage of the face
value.
The benefit paid from the rider does not reduce the death benefits paid out upon death.
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