Primerica practice te - Study guides, Class notes & Summaries

An insured under a life insurance policy has been diagnosed with a terminal illness and has 6 months to live. The insured knows that his financial state will worsen even more with the upcoming medical expenses. What option could the insured utilize? a) Estate liquidation b) Nonpayment of premium c) Change of beneficiary d) Viatical settlementAnswer - d Which of the following best describes fixed-period settlement option? a) Only the principal amount will be paid out within a specified p...

The receipt given to a life insurance applicant when the application is completed and the initial premium is received is called a(n) Answer - conditional receipt Statements in the application for insurance that are believed to be true to the best of the applicant's knowledge are called Answer - representations An annuity is considered fixed when it does all of the following EXCEPT Answer - provides the annuitant with an interest rate that is the lesser of the guaranteed or current rate...

Primerica Practice Test Exam Questions and Answers 2024/2025 The receipt given to a life insurance applicant when the application is completed and the initial premium is received is called a(n) - CORRECT ANSWER-conditional receipt Statements in the application for insurance that are believed to be true to the best of the applicant's knowledge are called - CORRECT ANSWER-representations An annuity is considered fixed when it does all of the following EXCEPT - CORRECT ANSWER-provide...

The receipt given to a life insurance applicant when the application is completed and the initial premium is received is called a(n) - conditional receipt Statements in the application for insurance that are believed to be true to the best of the applicant's knowledge are called - representations An annuity is considered fixed when it does all of the following EXCEPT - provides the annuitant with an interest rate that is the lesser of the guaranteed or current rate The most common type of...

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The receipt given to a life insurance applicant when the application is completed and the initial premium is received is called a(n) conditional receipt Statements in the application for insurance that are believed to be true to the best of the applicant's knowledge are called representations An annuity is considered fixed when it does all of the following EXCEPT provides the annuitant with an interest rate that is the lesser of the guaranteed or current rate The most common type of whole...

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The receipt given to a life insurance applicant when the application is completed and the initial premium is received is called a(n) - conditional receipt Statements in the application for insurance that are believed to be true to the best of the applicant's knowledge are called - representations An annuity is considered fixed when it does all of the following EXCEPT - provides the annuitant with an interest rate that is the lesser of the guaranteed or current rate The most common type...

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