U Can Pass Life Insurance Chapter 2
All of the following statements are correct regarding Credit Life Insurance EXCEPT -
answerA. Benefits are paid to the borrower's beneficiary.
An Employee is joining a group insurance plan. In order to avoid having to prove
insurability, what must the employee do? - answer Join during the open enrollment
period.
All of the following are true regarding a decreasing term policy EXCEPT - answer The
payable premium amount steadily declines throughout the duration of the contract.
Which of the following is INCORRECT regarding a $100,000, 20-year level term policy?
- answerAt the end of 20 years, the policy's cash value will equal 100,000.
Your client wants both protection and savings from the insurance, and is willing to pay
premiums until retirement at age 65. What would be the right policy for this client? -
answerLimited pay whole life.
Which of the following best describes annually renewable term insurance? - answerIt is
level term insurance.
Which of the following policies would be classified as a traditional level premium
contract? - answerStraight Life
All of the following statements are correct regarding Credit Life Insurance EXCEPT -
answerA. Benefits are paid to the borrower's beneficiary.
An Employee is joining a group insurance plan. In order to avoid having to prove
insurability, what must the employee do? - answer Join during the open enrollment
period.
All of the following are true regarding a decreasing term policy EXCEPT - answer The
payable premium amount steadily declines throughout the duration of the contract.
Which of the following is INCORRECT regarding a $100,000, 20-year level term policy?
- answerAt the end of 20 years, the policy's cash value will equal 100,000.
Your client wants both protection and savings from the insurance, and is willing to pay
premiums until retirement at age 65. What would be the right policy for this client? -
answerLimited pay whole life.
Which of the following best describes annually renewable term insurance? - answerIt is
level term insurance.
Which of the following policies would be classified as a traditional level premium
contract? - answerStraight Life
