Pa life insurance - Study guides, Class notes & Summaries

PA LIFE INSURANCE LICENSE EXAM 2024 WITH 100% CORRECT ANSWERS an immediate annuity has been purchased with a single premium. when does the annuitant typically begin receiving benefit payments? - correct answer 1 month An insurer will accept a premium from the insured and continue the coverage in full force as though it was NOT late during which time period? Incontestable period Probation period Reinstatement period Grace period - correct answer Grace period The grace period ...

PA Life, Accident, & Health Insurance Exam With 100% Correct Answers 2023

WEBCE PA LIFE INSURANCE EXAM STUDY QUESTIONSWhat must an insurance company do to appoint a producer as its agent? - correct answer file a notice of appointment with the Department and pay the required fee Persons who commit crimes of dishonesty while engaged in interstate insurance transactions can be sentenced to all of the following EXCEPT - correct answer imprisonment for up to 25 years ABC Insurance Company diligently maintains files of advertisements it uses to market its health insur...

PA LIFE INSURANCE EXAM 2024/2025 WITH 100% ACCURATE SOLUTIONS

PA LIFE INSURANCE EXAM 2024 WITH 100% CORRECT ANSWERS Single premium cash value policy can be described as.. - correct answer a policy that is paid up only after one payment All of the following are considered appropriate uses of life insurance.. - correct answer - attracting quality employees by offering a group life plan - protecting the business by covering key employees with life insurance - funding an entity buy sell agreement The do not call list offers exemption from all exc...

PA Life, Health and Accident Final Exam (2024 / 2025) Actual Questions with Verified Answers, 100% Guarantee Pass

PA Life Insurance Exam (2024 / 2025) Actual Questions with Verified Answers, 100% Guarantee Pass

Karen is a producer who has obtained personal information about a client without having a legitimate reason to do so. Under the McCarran-Ferguson Act, what is the minimum penalty for this? - ANSWER $10,000 or up to one year in jail A type of insurer that is owned by its policyowners is called - ANSWER Mutual insurer What is considered to be the primary reason for buying life insurance? - ANSWER Provide death benefits

Karen is a producer who has obtained personal information about a client without having a legitimate reason to do so. Under the McCarran-Ferguson Act, what is the minimum penalty for this? $10,000 or up to one year in jail A type of insurer that is owned by its policyowners is called Mutual insurer What is considered to be the primary reason for buying life insurance? Provide death benefits Fraternal Benefit Society has each of the following characteristics EXCEPT Exist for profit (FBS is a n...

life insurance policyowners are free to assign or sell their policy to anyone or anything regardless of the relationship between the new owner (the assignee) and the insured *the continuing need for insurable interest between owner and insured disappears after a life insurance policy is issued* Insurable Interest -the financial interest a person has in another person or property -all insurance applicants must have an insurable interest in the person or property that is to be insured Review -...