Spendthrift clause - 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? Brainpower Read More Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:05 / 0:15 Full screen Spendthrift Clause The clause...

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...

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...

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

Ohio life and Health Insurance Practice Final Exam Questions with accurate answers. Graded A. 2022/2023. Rated A Document Content and Description Below Ohio life and Health Insurance Practice Final Exam Questions with accurate answers. Graded A. 2022/2023. Rated A Premiums paid that exceed 7 1/2% of an insured's Adjusted Gross Income (AGI) are tax-deductible when paid for which of the following plans? - Qualified Long-Term Care plan All _____ policies must be guaranteed renewable. - long-term...

Premiums are Best described as - ANSWERthe amount an insured pays per unit of coverage Cindy buys a 10-year certain annuity with an installment refund. After receiving monthly payments for 5 years, Cindy dies. How many remaining payments will the insurer make to her beneficiary? - ANSWER60 payments Who does a life settlement broker represent? - ANSWERIndividual wanting to sell their life policy to a third party How is the cost of employer-provided group life insurance with coverage amou...

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

SC Life Insurance Exam Questions & Answers 100% accurate! The balance of the loan will be taken out of the death benefit - ANSWERSIf a policy has a automatic loan provision, what happens if the insured dies before the loan is paid back? Inspection Report - ANSWERSAn insurer receives a report regarding potential insured that includes financial status, hobbies, and habits. What type of report is that? Spendthrift Clause - ANSWERSThe clause that protects the proceeds of a life insurance po...

South Carolina Life Insurance Exam (questions and answers) 2024 updated The balance of the loan will be taken out of the death benefit - CORRECT ANSWER-If a policy has a automatic loan provision, what happens if the insured dies before the loan is paid back? Inspection Report - CORRECT ANSWER-An insurer receives a report regarding potential insured that includes financial status, hobbies, and habits. What type of report is that? Spendthrift Clause - CORRECT ANSWER-The clause that pro...

Spendthrift Clause - ️️A clause that prevents the debtors of a beneficiary from collecting the benefits before he/she receives them. Stock Companies - ️️1.) owned by the stockholders 2.) stock companies issue nonparticipating *a nonparticipating (stock) policy does not pay dividends to Policyowner; however, taxable dividends are paid to stockholder Mutual companies - ️️1.) are owned by the Policyowner and issue participating policies 2.) Policyowner are entitled to divide...