Loma 281 module 3 Study guides, Class notes & Summaries

LOMA 281 Module 3 Study Questions and Answers Top-Rated correctly Waiver of premium for disability benefit - answerA supplemental life insurance policy benefit under which the insurer promises to give up - to waive - its right to collect premiums that become due while the insured is totally disabled. Waiver of premium for payor benefit - answerA supplemental life insurance policy benefit under which the insurer agrees to waive its right to collect a policy's renewal premiums if the polic...

LOMA 281 Module 3

LOMA 281 Module 3 Questions and Answers 2023 with complete solution

LOMA 281 Module 3 Study Exam Questions and Answers 2024/2025 Latest Update 100% Solved Waiver of premium for disability (WP) Benefit A supplemental life insurance policy benefit under which the insurer promises to give up—to waive—its right to collect premiums that become due while the insured is totally disabled. - satisfies a 3-6 month waiting period: meaning for the first 3-6 months the person must cover it The WP benefit typically defines total disability for the insured as be...

property - ANSWER A bundle of rights a person has with respect to something. real property - ANSWER Land and whatever is growing on or attached to the land. rights of a life policyowner - ANSWER name the beneficiary, change the beneficiary, transfer ownership to someone else

Waiver of premium for disability benefit correct answers A supplemental life insurance policy benefit under which the insurer promises to give up - to waive - its right to collect premiums that become due while the insured is totally disabled. Waiver of premium for payor benefit correct answers A supplemental life insurance policy benefit under which the insurer agrees to waive its right to collect a policy's renewal premiums if the policyowner dies or becomes totally disabled. Disability...

LOMA 281 Module 3

LOMA 281 Module 3 Questions and Answers 2023 with complete solution

LOMA 281 Module 3 Study Guide with Complete Solutions Waiver of premium for disability (WP) Benefit - Answer️️ -A supplemental life insurance policy benefit under which the insurer promises to give up—to waive—its right to collect premiums that become due while the insured is totally disabled. - satisfies a 3-6 month waiting period: meaning for the first 3-6 months the person must cover it The WP benefit typically defines total disability for the insured as being unable to perfor...