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PSI LIFE EXAM LATEST REAL EXAM 100+ QUESTIONS AND CORRECT ANSWERS|AGRADE
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PSI LIFE EXAM LATEST REAL EXAM 100+ QUESTIONS AND CORRECT ANSWERS|AGRADE
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PSI LIFE EXAM LATEST 2024-2025
REAL EXAM 100+ QUESTIONS AND
119 missed terms
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CORRECT ANSWERS|AGRADE
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1 of 119
Term
Upon the death of an insured individual, what does life insurance
guarantee to deliver to the beneficiary?
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a specified sum of money a dividend
, a life annuity certain a final expense fund
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2 of 119
Term
What is an insurer's liability when it is discovered after an insured dies
that the insured's age on the policy was misstated?
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failure to pay all claims that are reported within 90 days after a loss occurs
1. Insured
2. Insured's physician
credit insurance
the insurer must pay a prorated amount of the policy based on the amount of
insurance the insured's premiums would have been if purchased at the correct
age
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, 3 of 119
Term
Statements by an application concerning personal health history,
family health history, occupation, and hobbies are referred to as
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Conditional Representations
Warranties Standard
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4 of 119
Term
An insurer may cancel a policy midterm for all of the following reasons
EXCEPT when the insured:
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Only tax deductible when the bonus
A life annuity certain
is an insurance plan
, Has a change in marital status Settle the claim in good faith
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5 of 119
Term
An example of a risk that is NOT a pure risk would be
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losing one's job due to a disability losing money at the racetrack
injury in an accident has a change in marital status
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6 of 119
Term
An immediate annuity is designed to make its first benefit payment to
the annuitant typically
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