Sc life insurance exam - Study guides, Class notes & Summaries

The balance of the loan will be taken out of the death benefit - If a policy has a automatic loan provision, what happens if the insured dies before the loan is paid back? Inspection Report - An insurer receives a report regarding potential insured that includes financial status, hobbies, and habits. What type of report is that? Spendthrift Clause - The clause that protects the proceeds of a life insurance policy from creditors after the death of the insured is known as Term - Children...

Annuity Certain - ANSWERSMaria would like an annuity that provides a guaranteed accumulation or payout. The type of annuity she is seeking is called Survivorship Life - ANSWERSThe type of policy which pays on the death of the last person is called Malign another insurer - ANSWERSDefamation occurs when a producer makes a false statement intended to A 70 year old NOT eligible for Social Security *You are not eligible to receive Medicare Part A benefits at age 65 or older if you are el...

An insurer will accept a premium from the insured and continue theicoverage in full force as though it was NOT late during which time period? Incontestable period Probation period Reinstatement period Grace period - ANSWERSGrace period A person who is a nonsmoker, of average weight, and in excellent health would most likely be in which risk classification? Standard Substandard Acceptable Preferred - ANSWERSPreferred Which of these is affected by the frequency of an insuranc...

SC life insurance exam study set questions and answers

SC Life Insurance Exam Questions and Answers

SC Life Insurance Exam Questions With Solutions 100% Correct The creditors have rights to the proceeds if they can show evidence of valid assignment Which of the following statements is true concerning the creditors of the deceased insured? Insurable interest and consent A life insurance policy has a legal purpose if both of which of the following elements exist? Cost of Living Rider A long stretch of national economic hardship causes a 7% rate of inflation. A policy owner notices ...

An insurer will accept a premium from the insured and continue theicoverage in full force as though it was NOT late during which time period? Incontestable period Probation period Reinstatement period Grace period - Answer Grace period A person who is a nonsmoker, of average weight, and in excellent health would most likely be in which risk classification? Standard Substandard Acceptable Preferred - Answer Preferred Which of these is affected by the frequency of an insura...

The balance of the loan will be taken out of the death benefit - Answer-If a policy has a automatic loan provision, what happens if the insured dies before the loan is paid back? Inspection Report - Answer-An insurer receives a report regarding potential insured that includes financial status, hobbies, and habits. What type of report is that? Spendthrift Clause - Answer-The clause that protects the proceeds of a life insurance policy from creditors after the death of the insured is known as...

An insurer will accept a premium from the insured and continue theicoverage in full force as though it was NOT late during which time period? Incontestable period Probation period Reinstatement period Grace period - Answer Grace period A person who is a nonsmoker, of average weight, and in excellent health would most likely be in which risk classification? Standard Substandard Acceptable Preferred - Answer Preferred Which of these is affected by the frequency of an insu...

The balance of the loan will be taken out of the death benefit - Answer If a policy has a automatic loan provision, what happens if the insured dies before the loan is paid back? Inspection Report - Answer An insurer receives a report regarding potential insured that includes financial status, hobbies, and habits. What type of report is that? Spendthrift Clause - Answer The clause that protects the proceeds of a life insurance policy from creditors after the death of the insured is k...