Surrender cost index - Study guides, Class notes & Summaries

PRIMERICA LIFE INSURANCE EXAM. All Most Examined Questions Bank with answers. 100% verified. Rated A. 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 ...

maine life insurance LAW Exam Questions and answers with 100% Complete Solutions | verified &updated 2024 solicitation and cost disclosure - -buyers guide -policy summary -policy illustrations buyers guide - contains information that helps applicant decide how much life insurance to buy determine what type of policy is needed and compares the costs of similar policies policy summary - written statement describing the elements of a life insurance policy has name, address of producer & insu...

Insurance (General concept) - ANSWER - transfers the risk of loss from an individual to an insurer - based on the principle of indemnity - based on the principle of risk (risk pooling) insurable interest (General Concept) - ANSWER - must exist at the time of the application - insuring one's own life, family member, or a business partner Solicitation and sales presentation - ANSWER - illustration- presentation of nonguaranteed elements - buyer's guide is generic information abo...

NC State LIFE Insurance Exam Questions and Answers Already Graded A nsurable Interest - Answer ️️ -Something of value that, if lost, would cause you financial harm. Must exist upfront at time of application. Legitimate financial reason for buying insurance. Impersonation - Answer ️️ -Wrong person takes medical examination/test in connection with application for insurance. **Can be contested beyond 2 year incontestable clause** Adhesion - Answer ️️ -Ins. Co. designs original con...

NC State LIFE Insurance Exam Questions and Answers Already Graded A+ Insurable Interest Something of value that, if lost, would cause you financial harm. Must exist upfront at time of application. Legitimate financial reason for buying insurance. Impersonation Wrong person takes medical examination/test in connection with application for insurance. *Can be contested beyond 2 year incontestable clause* Adhesion Ins. Co. designs original contract. Insured has little or no control of ...

NC State LIFE Insurance Exam Questions and Answers Already Graded A+ Insurable Interest Something of value that, if lost, would cause you financial harm. Must exist upfront at time of application. Legitimate financial reason for buying insurance. Impersonation Wrong person takes medical examination/test in connection with application for insurance. *Can be contested beyond 2 year incontestable clause* Adhesion Ins. Co. designs original contract. Insured has little or no control of ...

Arkansas Life Insurance Exam Questions and Answers 100% Correct 2024 J is a producer who has induced an insured through misrepresentation to surrender an existing insurance policy. What is J guilty of? - CORRECT ANSWER-Twisting What is implied authority defined as? - CORRECT ANSWER-Authority that is not specifically given to an agent contract, but that an agent can reasonably assume to carry out his/her duties A person who is a nonsmoker, average weight, excellent health would fall i...

Maine Life Insurance LAW solicitation and cost disclosure -buyers guide -policy summary -policy illustrations buyers guide contains information that helps applicant decide how much life insurance to buy determine what type of policy is needed and compares the costs of similar policies policy summary written statement describing the elements of a life insurance policy has name, address of producer & insured has name of policy and each rider tells annual premium, cash surrender v...

A business offers a group disability income plan and pays the premiums. If an employee suffers a disabling injury, the benefits paid to the employee will be: - Answer-axable income to the business deductible income to the employee a deductible business expense for the business taxable income to the employee A business overhead expense policy does NOT provide: - Answer-tax-free benefits a Medicare SELECT plan is - Answer-a managed care policy. A Medicare SELECT plan is a - Answer-managed c...

Maine Life Insurance LAW solicitation and cost disclosure -buyers guide -policy summary -policy illustrations buyers guide contains information that helps applicant decide how much life insurance to buy determine what type of policy is needed and compares the costs of similar policies policy summary written statement describing the elements of a life insurance policy has name, address of producer & insured has name of policy and each rider tells annual premium, cash surrender v...