Surrender cost index - Study guides, Class notes & Summaries

NC State LIFE Insurance Exam With Complete Solutions Insurable Interest - answerSomething of value that, if lost, would cause you financial harm. Must exist upfront at time of application. Legitimate financial reason for buying insurance. Impersonation - answerWrong person takes medical examination/test in connection with application for insurance. **Can be contested beyond 2 year incontestable clause** Adhesion - answerIns. Co. designs original contract. Insured has little or no control o...

NC State LIFE Insurance Exam Questions and Answers Already Graded A nsurable Interest - Answer ️️ -Something of value that, if lost, would cause you financial harm. Must exist upfront at time of application. Legitimate financial reason for buying insurance. Impersonation - Answer ️️ -Wrong person takes medical examination/test in connection with application for insurance. **Can be contested beyond 2 year incontestable clause** Adhesion - Answer ️️ -Ins. Co. designs original con...

NC State LIFE Insurance Exam With Complete Solutions Insurable Interest - answerSomething of value that, if lost, would cause you financial harm. Must exist upfront at time of application. Legitimate financial reason for buying insurance. Impersonation - answerWrong person takes medical examination/test in connection with application for insurance. **Can be contested beyond 2 year incontestable clause** Adhesion - answerIns. Co. designs original contract. Insured has little or no control o...

Disability Buy-Out plans feature: - ANSWER Long elimination plans up to two years (A disability buy-out plan funded with disability insurance has a long elimination period of generally two years. The elimination period begins the day of the disability. Then the disability policy will provide a lump sum to buy the disabled partner out. They want to make sure that the partner is not going to recover and come back to work) When MUST the Office of Insurance Regulation conduct a market conduct exa...

Abandonment correct answers A surrender of rights; point when a broker makes no effort to service or sell listed property; failure to perform. Absentee owner correct answers A property holder who does not reside on the property and who usually relies on a property manager to supervise the investment. Abstract of title correct answers Condensed history of title to real property consisting of a summary of the links in the chain of title" extracted from documents bearing on the title status....

Arkansas Life Insurance Exam Questions and Answers 100% Correct 2024 J is a producer who has induced an insured through misrepresentation to surrender an existing insurance policy. What is J guilty of? - CORRECT ANSWER-Twisting What is implied authority defined as? - CORRECT ANSWER-Authority that is not specifically given to an agent contract, but that an agent can reasonably assume to carry out his/her duties A person who is a nonsmoker, average weight, excellent health would fall i...

Maine Life Insurance LAW Latest Update Graded A+ solicitation and cost disclosure -buyers guide -policy summary -policy illustrations buyers guide contains information that helps applicant decide how much life insurance to buy determine what type of policy is needed and compares the costs of similar policies policy summary written statement describing the elements of a life insurance policy has name, address of producer & insured has name of policy and each rider tells annual premium, cash s...

XCEL Exam Simulator FL S recently received a $500,000 lump sum retirement buyout from her employer. She would like to buy an annuity that will immediately furnish her with a guaranteed income for life. What type of annuity is best suited for her situation? - Single Premium. Immediate Annuities are purchased with a single lump sum payment and will start providing income payments within the first year, but usually starting 30 days from the purchase date. What type of group plan involve...

Maine Life Insurance LAW solicitation and cost disclosure -buyers guide -policy summary -policy illustrations buyers guide contains information that helps applicant decide how much life insurance to buy determine what type of policy is needed and compares the costs of similar policies policy summary written statement describing the elements of a life insurance policy has name, address of producer & insured has name of policy and each rider tells annual premium, cash surrender v...

A contract which one party undertakes to indemnify another against loss is called - Insurance. A father owns a life insurance policy on his 15-year-old daughter. The policy contains the optional Payor Benefit rider. If the father becomes disabled, what will happen to the life insurance premiums? - The insured's premiums will be waived until she is 21. A married couple owns a permanent policy which covers both of their lives and pays the death benefit only upon the death of the first insure...