Beneficiary designation - Study guides, Class notes & Summaries

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NJ Life Producer Exam Correct answers latest update
  • NJ Life Producer Exam Correct answers latest update

  • Exam (elaborations) • 9 pages • 2024
  • NJ Life Producer Exam Correct answers latest update Which of the following amounts must decrease in a decreasing term? Death benefit In life insurance, insurable interest must exist at the time the.. Producer writes an on a proposed insured An applicant makes an offer to the insurer when they pay an initial premium with the application Which of the following makes Universal Life insurance different from other forms of permanent insurance? Premium Schedule An insurer that...
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PSI Life Exam Questions and Answers 2022/2023
  • PSI Life Exam Questions and Answers 2022/2023

  • Exam (elaborations) • 9 pages • 2022
  • What kind of retirement plan can a 75-employee for profit corporation establish? - ANSWER-Simple IRA The taxable portion of a monthly income benefit paid during the annuity phase from a nonqualified annuity is calculated using the - ANSWER-Exclusion ratio Unfair claims settlement methods and practices by an insurance company include all of the following acts EXCEPT - ANSWER-failure to pay all claims that are reported within 90 days after a loss occurs The settlement option that allows p...
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health and accident exam psi Questions And Answers 2023
  • health and accident exam psi Questions And Answers 2023

  • Exam (elaborations) • 11 pages • 2023
  • What is the maximum amount of time an insurer has to provide the claimant the forms for filing proof of loss? 1. 7 days 2. 15 days 3. 30 days 4. 90 days - Answer- 2. 15 days Which of the following is the most common method to supplement Medicare coverage? 1. Medicaid 2. Group health insurance 3. Employer Health Insurance 4. Coverage offered by private insurers - Answer- 4. Coverage offered by private insurers In which of the following must a beneficiary change request be filed in w...
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Health Insurance Florida 2-40 Practice Exam 2023 Questions & Correct Answers.
  • Health Insurance Florida 2-40 Practice Exam 2023 Questions & Correct Answers.

  • Exam (elaborations) • 10 pages • 2023
  • Health Insurance Florida 2-40 Practice Exam 2023 Questions & Correct Answers. Which of the following laws requires an insurer to notify an applicant in writing that an investigative consumer report may be made on the applicant? -Uniform Provisions Law. -Freedom of Information Act. -Medical Information Bureau Disclosure Act -Fair Credit Reporting Act (Insurance Information and Privacy Protection Act) Correct Answer: Fair Credit Reporting Act (Insurance Information and Privacy Protection Ac...
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Kansas Life & Health Insurance Final Exam 2024
  • Kansas Life & Health Insurance Final Exam 2024

  • Exam (elaborations) • 15 pages • 2024
  • When can a policy owner change a revocable beneficiary? - correct answer Anytime J would like to maintain the right to change beneficiaries. Which beneficiary designation should be used? - correct answer Revocable M purchased an Accidental Death and Dismemberment (AD&D) policy and named his son as beneficiary. M has the right to change the beneficiary designation at anytime. What type of beneficiary is his son? - correct answer Revocable Beneficiary revocable beneficiary - correct answe...
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NC LIFE insurance state exam questions and answers 100% pass
  • NC LIFE insurance state exam questions and answers 100% pass

  • Exam (elaborations) • 14 pages • 2023
  • NC LIFE insurance state exam questions and answers 100% pass CREDIT LIFE a special type of coverage written to the life of the debtor and pay off the balance of a loan in the event of the death of the debtor. BUY-SELL AGREEMENTS a legal contract that determines what will be done with a business in the event that an owner dies or becomes disabled. Otherwise known as a business continuation agreement INSURABLE INTEREST to purchase insurance the policy owner must face the possibility of losing mo...
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GA Life Insurance Exam  Questions Reviewed And Revised  With Correct Answers   <Guarantee Pass |Updated!!>
  • GA Life Insurance Exam Questions Reviewed And Revised With Correct Answers <Guarantee Pass |Updated!!>

  • Exam (elaborations) • 24 pages • 2024
  • GA Life Insurance Exam Questions Reviewed And Revised With Correct Answers <Guarantee Pass |Updated!!> The Common Disaster Clause provides that if both the insured and the sole named beneficiary were to die in a common accident, which of the following is true? - ANSWER the clause provides the payment of proceeds to the insured's estate A policy owner would like to change the beneficiary on a Life insurance policy and make the changes permanent. Which type of d...
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LOMA 281 Exam with Complete Solutions Graded A+
  • LOMA 281 Exam with Complete Solutions Graded A+

  • Exam (elaborations) • 13 pages • 2024
  • LOMA 281 Exam with Complete Solutions Graded A+ Extended term life insurance nonforfeiture option - Answer-policy owner can discontinue paying premiums and use the policy's net cash surrender value to purchase term insurance. this term insurance is for the full coverage amount provided under the original policy for as long a term as the net cash surrender value can provide automatic premium loan option - Answer-insurer will automatically pay an overdue premium by making a loan against the p...
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DELAWARE LIFE INSURANCE Q&A
  • DELAWARE LIFE INSURANCE Q&A

  • Exam (elaborations) • 16 pages • 2024
  • What is the benefit of choosing extended term as a nonforfeiture option? - Answer- It has the highest amount of insurance protection Upon the death of the insured, the primary beneficiary discovers that the insured chose the interest only settlement option. What does this mean? - Answer- The beneficiary will only receive payments of the interest earned on the death benefit If a life insurance policy has an irrevocable beneficiary designation, - Answer- the beneficiary can only be changed w...
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LLQP Practice Exam 150 Questions and Answers (100%Verified).
  • LLQP Practice Exam 150 Questions and Answers (100%Verified).

  • Exam (elaborations) • 61 pages • 2023
  • LLQP Practice Exam 150 Questions and Answers (100%Verified). What kind of life insurance beneficiary requires his/her consent when a change of beneficiary is made? *Irrevocable beneficiary *Tertiary beneficiary *Primary beneficiary *Revocable beneficiary - ANSWER *Irrevocable beneficiary (An irrevocable designation may not be changed without the written consent of the beneficiary.) When can a policyowner change a revocable beneficiary? *Anytime *After the consent of the current benefi...
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