Pa life insurance - Study guides, Class notes & Summaries

an immediate annuity has been purchased with a single premium. when does the annuitant typically begin receiving benefit payments? - ANS 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 - ANS Grace period The grace period is the amount of time an insurer continues coverage in full force and will accept the p...

PA Life Insurance Latest 2024 Graded A+ Insurance Policy A contract between an insured and an insurance company which agrees to pay the insured for loss caused by specific events Insurer (Principal) The company who issues a policy of insurance Insured The person covered by the policy of insurance Policyowner The person who pays for the policy of insurance Beneficiary The person who receives the benefits from the policy of insurance Premium The money paid to the insurance compa...

24 Hours will be applied to the current reporting period, and 24 can be applied to the period immediately following A producer has successfully completed 52 hours of continuing education. How many hours can the producer apply to her current reporting period, and how many hours can she carry toward the next reporting period? Depreciation period Which of the following is NOT a term for the period of time during which the annuitant or the beneficiary receives income? It is intended to provide cov...

PA Life Insurance Exam

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PA Life Insurance License Exam

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 except - correct answer life insurance Ken is a producer wh...

Which event must a producer report to the Commissioner? Conducting business under an assumed name Earning new insurance designations Sharing commissions with another licensed producer Involvement in an automobile accident Conducting business under an assumed name If a producer misleads or fails to adequately disclose the title and true nature of a policy offered to a potential insured, it may be considered Defamation Unfair discrimination Misrepresentation Rebating Misrepresentation Under the ...