Xcel practice exams - Study guides, Class notes & Summaries

A variable insurance policy: - does not guarantee a return on its investment accounts A Renewable Term Policy is renewable at the option of the: - Insured Which of these types of life insurance allows the policyowner to have level premiums and to also choose from a selection of investment options? - Variable Life Which of the following actions is NOT possible with a Universal Life policy? - Premiums may be applied as a credit against income tax Which provision allows the policyowner ...

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XCEL SOLUTIONS EXAM 2024/2025 WITH 100% CORRECT ANSWERS An accident and Health insurance applicant who fails to includes material medical information on an application would be reason for the insurer to - correct answer deny any future claims and to refund the premium S has a Whole Life Policy with a premium payment due soon. Which provision would keep the policy in force if S does not make the required payment and the policy has adequate cash value from which the premium payment can be made...

XCEL Solutions practice Exam Simulator Practice Questions and Answers 100% Pass Which of the following statements is CORRECT regarding the tax treatment of a lump- sum payment paid to a life insurance policy's primary beneficiary? - Correct Answer ️️ -All proceeds are income tax free in the year they are received. A(n) _____ insurance company is one formed in a country other than the United States. - Correct Answer ️️ -Alien Term insurance has which of the following characteristi...

XCEL Solutions practice Exam Simulator Complete Answers Which of the following statements is CORRECT regarding the tax treatment of a lump-sum payment paid to a life insurance policy's primary beneficiary? All proceeds are income tax free in the year they are received. A(n) _____ insurance company is one formed in a country other than the United States. Alien Term insurance has which of the following characteristics? Expires at the end of the policy period. Which Federal law allows ...

XCEL Solutions Practice Exam Simulator Questions and Answers Rated A Which of the following statements is CORRECT regarding the tax treatment of a lump-sum payment paid to a life insurance policy's primary beneficiary? All proceeds are income tax free in the year they are received. A(n) _____ insurance company is one formed in a country other than the United States. Alien Term insurance has which of the following characteristics? Expires at the end of the policy period. Which Federal law al...

A potential client, age 40, would like to purchase a Whole Life policy that will accumulate cash value at a faster rate in the early years of the policy. Which of these statements made by the producer would be correct? 20-Pay Life accumulates cash value faster than Straight Life A variable insurance policy: does not guarantee a return on its investment accounts A Renewable Term Policy is renewable at the option of the: Insured Which of these types of life insurance allows...