Ordinary whole life - Study guides, Class notes & Summaries

Types of Licenses - ANSWER--Producers -Business entity producers -Nonresident producers -Temporary -Special Brokers -Advisers -Public insurance adjusters -Reinsurance Adjusters -Life settlement broker portable electronics insurance limited lines insurance Producers - ANSWER-is a general term applied to anyone who engages in the sale of insurance products. Producers must be licensed by the state in which they wish to sell insurance. Business entity producer - ANSWER-A requirement f...

Life & Health Insurance Exam Colorado (2023/2024) 100% Pass Traditional Whole Life -Ordinary (Straight) Life -Limited-Pay & Single-Premium Whole Life -Adjustable Whole Life Ordinary (Straight) Life -Until 100 or Death, whichever comes first -Permanent Protection -Rates & benefits based on law of large numbers (Mortality Rate) -Guaranteed, tax-deferred interest rate -Premium level, company's risk goes down as cash value goes up -Insurer keeps the cash value if death to offset risk -Lowest net c...

Primerica - Exam test Questions With 100% Correct Answers 2023 An insurer has made all of the decisions regarding the provisions included in the insured's policy. The insured finds an objectionable provision and wants to negotiate it with the insurer but is not allowed to do so. Her only options are to reject the policy or accept it as is. Which contract feature does this describe? a) Unilateral b) Conditional c) Personal d) Adhesion - Correct answer-Adhesion An insurance policy that ...

Traditional Whole Life (Ans- -Ordinary (Straight) Life -Limited-Pay & Single-Premium Whole Life -Adjustable Whole Life Ordinary (Straight) Life (Ans- -Until 100 or Death, whichever comes first -Permanent Protection -Rates & benefits based on law of large numbers (Mortality Rate) -Guaranteed, tax-deferred interest rate -Premium level, company's risk goes down as cash value goes up -Insurer keeps the cash value if death to offset risk -Lowest net cost in long run -Client has...

NEBRASKA INSURANCE EXAM 2024/2025 WITH 100% ACCURATE SOLUTIONS Who is protected with the "other insurance with this insurer" provision? - Precise Answer Insurance company A nonparticipating whole life insurance policy was surrendered for its $20,000 cash value. The total premiums paid had totaled $16,000. What were the federal income tax consequences to the policyowner on receipt of the cash value? - Precise Answer $16,000 was received tax-free and $4,000 as ordinary income After th...

Florida Life, Health and Variable Annuity Exam Latest Update Graded A Categories of Life Insurance Ordinary, Industrial and Group Ordinary Life is individual life insurance that includes many types of TERM and PERMANENT insurance and is usually paid with monthly premiums. Is the principal type of life insurance purchased in the United States. Industrial Insurance small issue amounts with premiums collected weekly or monthly by agents at policyowner's home. Also known as BURIAL INSURANCE Grou...

Life & Health Insurance Exam Colorado Questions and Answers 100% Pass Traditional Whole Life - Correct Answer ️️ --Ordinary (Straight) Life -Limited-Pay & Single-Premium Whole Life -Adjustable Whole Life Ordinary (Straight) Life - Correct Answer ️️ --Until 100 or Death, whichever comes first -Permanent Protection -Rates & benefits based on law of large numbers (Mortality Rate) -Guaranteed, tax-deferred interest rate -Premium level, company's risk goes down as cash value goes up...

ILW1501 Exam 2023 answers may/june (uploaded at 10:04 2023/06/06) QUESTIONS ASKED. Which one of the following is a natural person in terms of South African law? a company an ordinary human being an association of people a church Clear my choice Question 2 Not yet answered Marked out of 2.00 Flag question Question text Read the following scenario and answer the question that follows: Lizelle is an animal rights activist. She regards the hunting of wildlife as unethical and she oft...

Indiana Life Insurance Exam Questions and Answers Rated A+ Which of the following is NOT a characteristic of a Variable Annuity? A. Premium Payments may be level or flexible or single premium B. The cash values are invested in securities. C. The non-forfeiture values will provide for the return of the cash value should the annuitant die during the accumulation period. D. It provides for a tax-free death benefit. D. It provides for a tax-free death benefit. All of the following policies prov...

Estate Creation VS Estate Conservation - ANSWER Creation is when proceeds are paid to survivors, Conservation is when proceeds are used to pay the estate In ordinary whole life, when is face value paid - ANSWER When insurer reaches 100 or at death Are employer paid life premiums deductible - ANSWER Yes Who determines if Insured is an acceptable risk - ANSWER Home office