Nj life producer Study guides, Class notes & Summaries

NJ Life Producer Exam | 2024 Questions & Answers | 100% Correct | Verified

Under a Traditional IRA, interest earned is taxed - upon distribution Which of these statements regarding the annuitants is CORRECT? - The annuitant's life expectancy determines the annuity payment What will the beneficiary receive is annuitant dies during the accumulation period? - The greater the accumulated cash value or the total premium paid Which of the following actions is REQUIRED by an agent who is replacing an existing life insurance policy? - Submit to to the replacing insurer ...

NJ Life Producer Exam Study Life Insurance Questions and Answers

NJ Life Producer Exam Questions with Correct Answers Which of the following policy components contains the company's promise to pay? - Answer-Insuring clause * The insuring clause contains the company's promise to pay. Which of the following included in the term "insurance-related conduct"? - Answer-Transmitting funds between producers and the insurance company *The term "insurance-related conduct" includes acts related to insurance transactions, such as selling, soliciting, ne...

NJ Life Producer Questions and Answers Rated A+ The Waiver of Cost of Insurance rider is found in what type of insurance? Universal Life If an insured continually uses the automatic premium loan option to pay the policy premium, The policy will terminate when the cash value is reduced to nothing If a settlement option is not chosen by the beneficiary or policyowner, which option will be used? Lump sum An insured misstates her age at the time the life insurance application is tak...

NJ Life Producer Exam Study Life Insurance Renewable Term Life Insurance - correct answer An insurer must renew a renewable term policy at the policyowner's request regardless of the insurability status of the insured. Fixed-amount - correct answer The settlement option that provides for payments to be made in regular installments to a beneficiary until the principal and interest are exhausted best describes: Must give public reasonable access. - correct answer What hours of operation ...

NJ Life producer Exam Questions with Answers The employee usually has a period of ___ days after terminating from the group life in order to exercise the conversion option. During this time, the employee is still covered under the original group policy. - Answer-31 If the master contract is terminated, every individual who has been on the plan for at least ___ will be allowed to convert to individual permanent insurance of the same coverage. - Answer-5 years When an employer pays all of t...

NJ Life Producer Exam - Insurance and Laws | 2024 Questions & Answers | 100% Correct | Verified

NJ Life Producer 2024 Questions & Answers | 100% Correct | Verified

NJ Life Producer Exam Questions And Revised Correct Answers Which of the following amounts must decrease in a decreasing term? - ANSWER : Death benefit In life insurance, insurable interest must exist at the time the.. - ANSWER : Producer writes an on a proposed insured An applicant makes an offer to the insurer when they - ANSWER : pay an initial premium with the application Which of the following makes Universal Life insurance different from other forms of permanent insuran...