Life insurance policy - Study guides, Class notes & Summaries

Primerica Life Insurance Exam Questions and Answers Already Passed An insured purchased an insurance policy 5 years ago. Last year, she received a dividend check from the insurance company that was not taxable. This year, she did not receive a check from the insurer. From what type of insurer did the insured purchase the policy? a. mutual b. reciprocal c. nonprofit service organization d. stock A. mutual funds not paid out after paying claims and other operating costs are returned to the po...

Wisconsin Life Insurance Exam Questions With 100% Correct Answers A 60-year-old participant in a 401(k) plan takes a distribution and rolls it over to an IRA within 60 days. Which of the following is true? a) The amount of the distribution is reduced by the amount of a 20% withholding tax b) No taxes are due since the plan participant is over age 59 1/2 c) There is a 10% early withdrawal penalty d) The amount distributed is subject to ordinary income tax - a A claimant, whi is to...

PSI LIFE INSURANCE EXAM which of the following occurs immediately after the application is submitted and the initial premium paid: A: the underwriting process begins B: the applicant's references are checked C: the beneficiaries are selected D: the insurance goes into effect Correct Answer: A: the underwriting process begins in a level term life policy, which ALWAYS remains constant: A: premium B: beneficiary C: death benefit D: maximum age of the insured Correct Answer: C: d...

Life Insurance Exam 2024 Questions and Answers 100% VerifiedLife Insurance Exam 2024 Questions and Answers 100% VerifiedLife Insurance Exam 2024 Questions and Answers 100% VerifiedLife Insurance Exam 2024 Questions and Answers 100% VerifiedJ has a life policy with the Guaranteed Insurability rider. J has just celebrated their 42nd birthday and realizes that she wants to use her rider and buy more death benefit. Which of the following will apply to J's request? A: The insurer will allow J to ad...

AZ Life Insurance Exam (Latest 2024/ 2025 Update) Questions and Verified Answers| 100% Correct| Grade A Q: A life policy that has premiums that are lower than normal during the early years is called Decreasing term Modified life Variable life Limited-pay life Answer: Modified life Q: a material change in a modified endowment contract (MEC) results in the contract becoming void a new contestable period the seven pay test, adjustable for cash value, applies again a tax ...

WV Life Insurance Laws and Rules Latest Update Graded A+ Examination of Records The Commissioner can examine anyone in the business of insurance in the state at anytime. A company shall be examined every 5 years. Notice and Hearing the Commissioner may call and hold hearings for any purpose deemed necessary. Insurance Commissioner the commissioner may conduct investigations or examinations whenever deemed necessary, subpoena the witnesses to testify. cease and desist order the ...

INDIANA LIFE AND HEALTH RULES AND REGULATIONS EXAM (2023/2024) RATED A+ Insurance Commissioner • Appointment by Governor • Member of NAIC Insurance commissioner Duties responsible for overseeing the Department of Insurance, which regulates insurance companies operating in Indiana. works to promote improvements to insurance laws and the enforcement of said laws in Indiana.[ Certificate of Authority Licensed companies receive a _______________________________ to conduct the business of insur...

Pearson Vue Life Insurance Practice Exam Questions and verified Answers P wants to name her husband as the beneficiary of her life policy. However, she wishes to retain all of the rights of ownership. P should have her husband named as the: A contract that has as its basic function the systematic liquidation of accumulated assets through periodic payments is called an: An insurance producer takes an application for a life insurance policy but does not collect the initial premium. On d...

NC Life Insurance Exam Prep Questions and Answers Already Passed An agent who sells an individual life insurance policy in NC MUST deliver to the policyowner A policy summary and buyer's guide All of the following actions are considered rebating EXCEPT Sharing commissions with other licensed and appointed agents What benefit does the Payor Clause on a Juvenile Life Policy provide? Premiums are waived if payor becomes disabled An agent who signs a blank contract application or policy of insu...

This document contains workings, explanations and solutions to the ISR3702 Assignment 2 (QUALITY ANSWERS) Semester 1 2024. For assistance call or us on 0.6.8..8.1.2..0.9.3.4..... Question 1 (50 marks) Bantu Life Insurance Company received the following life insurance proposal from Chief Mlaudzi, who indicated that, because he lacked the necessary knowledge about life policies, the underwriter should select an appropriate policy for each person: 1.1 Indicate an appropriate life policy or polici...