Mi life producer - Study guides, Class notes & Summaries

Practice Test MI Life Producer Exam Questions and Answers

MI LIFE PRODUCER EXAM QUESTIONS AND ANSWERS

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Jane works for a company that allows employee contributions under a 401(k) plan. When will Jane become fully vested in her plan contributions? - ANSWER immediately//While employer contributions to a qualified plan can be subject to a vesting schedule, participants are always fully vested in their own contributions. Agents must act in the best interests of applicants and insureds. What does this require them to do? - ANSWER give all important information about a proposed policy//Agents must a...

Practice Test MI Life Producer Exam Questions And Answers 100% Pass Which of the following term insurance types provides temporary protection that can be changed to some type of permanent protection without evidence of insurability? - answerConvertible Which policy type is backed by equity investments and allows the policyholder to adjust the death benefit? - answervariable universal life which of the following lists the three common types of permanent individual life insurance? - answerV...

MI LIFE PRODUCER {Final Exam} Questions And Answers 100% Pass. A non-contributory health insurance plan, helping the insurer avoid? - answerAdverse Selection When calculating the amount of life insurance needed for an income earner, what has to be determined when using the NEEDS APPROACH? - answerThe family's financial objectives if the income earner were to die OR become disabled. Which of these are likely to occur when life OR health insurance is being applied for? - answerMedical h...

Michigan Life And Health Final Exam Questions & Answers, 100% Rated-What amount will be paid under a policy where the insured misstated his/her age? - an amount the premium would have purchased at the correct age the acceptance of a credit life application requires the submission of a certificate of insurance to the insured within_____ days - 30 days which of these is considered to be a Living benefit option in a life insurance policy - Accelerated death benefit loans obtained by a poli...