4/15/26, 6:49 AM TN Life and Health Insurance Exam Questions & Answers | 100% Verified solutions (2026) UPDATE |2026!! STUDY GUIDE EXAM …
TN Life and Health Insurance Exam Questions &
Answers | 100% Verified solutions (2026) UPDATE
|2026!! STUDY GUIDE EXAM
Save
Terms in this set (215)
term period of time
term life insurance life insurance policy that provides temporary
coverage
term life insurance least expensive, cheap, or very low premium life
insurance policy
face amount/face value the amount paid to the beneficiary at the insured's
death
on the 1st page of the where is the face value for a policy listed?
policy/contract
group life insurance term life insurance that employer provides to
employees; usually $10,000
$50,000 what is the maximum amount the employer can
provide to an employee without you paying tax?
https://quizlet.com/1168116106/tn-life-and-health-insurance-exam-questions-answers-100-verified-solutions-2026-update-2026-study-guide-exam-fla… 1/22
,4/15/26, 6:49 AM TN Life and Health Insurance Exam Questions & Answers | 100% Verified solutions (2026) UPDATE |2026!! STUDY GUIDE EXAM …
D How much of the group life of $75,000 would be
taxable to the beneficiary?
A. $25,000
B. $75,000
C. $50,000
D. none
renewable right of the policyholder to renew the policy at the
end of the term
convertible right of the policyholder to change their
temporary/term coverage to whole life/permanent
protection
B You may convert your group life at termination of
employment to?
A. term
B. whole life
C. either a or b
D. none of these
level term the face amount and the premium stay the same for
the policy period or term
decreasing term the face amount decreases for the life of the policy
down to zero at the end of the term or expiration
date of the contract
credit life pays off the balance of a loan at insured's death
increasing term the face amount increases for the life of the policy;
starts at zero/no value; not sold very often
https://quizlet.com/1168116106/tn-life-and-health-insurance-exam-questions-answers-100-verified-solutions-2026-update-2026-study-guide-exam-fla… 2/22
, 4/15/26, 6:49 AM TN Life and Health Insurance Exam Questions & Answers | 100% Verified solutions (2026) UPDATE |2026!! STUDY GUIDE EXAM …
return of premium a rider that at death pays an additional amount of
money equal to all premiums paid up to your time
of death
annually renewable expires each year, but is renewable for another
year; premium increases each year
whole life life insurance policy that covers the whole of life or
to age 100
continuous pay pay the same premium until age 100 when the
policy pays off to owner
limited pay premium is paid up before age 100; higher premium
and higher cash value
single pay premium is paid up in one payment
20 Pay Life premium is paid up in 20 yrs
Life Paid Up at 65 premium paid up at age 65
modified whole life premium begins very low (term) and changes to
whole life with one raise in premium after 3-5 years
then premium is constant for life of policy
graded premium whole life premium begins very low (term) and raises each
year for 5-10 years then premium is constant for life
of policy
endowment policy matures before age 100 at a specific age or
date; higher premium and cash value
https://quizlet.com/1168116106/tn-life-and-health-insurance-exam-questions-answers-100-verified-solutions-2026-update-2026-study-guide-exam-fla… 3/22
TN Life and Health Insurance Exam Questions &
Answers | 100% Verified solutions (2026) UPDATE
|2026!! STUDY GUIDE EXAM
Save
Terms in this set (215)
term period of time
term life insurance life insurance policy that provides temporary
coverage
term life insurance least expensive, cheap, or very low premium life
insurance policy
face amount/face value the amount paid to the beneficiary at the insured's
death
on the 1st page of the where is the face value for a policy listed?
policy/contract
group life insurance term life insurance that employer provides to
employees; usually $10,000
$50,000 what is the maximum amount the employer can
provide to an employee without you paying tax?
https://quizlet.com/1168116106/tn-life-and-health-insurance-exam-questions-answers-100-verified-solutions-2026-update-2026-study-guide-exam-fla… 1/22
,4/15/26, 6:49 AM TN Life and Health Insurance Exam Questions & Answers | 100% Verified solutions (2026) UPDATE |2026!! STUDY GUIDE EXAM …
D How much of the group life of $75,000 would be
taxable to the beneficiary?
A. $25,000
B. $75,000
C. $50,000
D. none
renewable right of the policyholder to renew the policy at the
end of the term
convertible right of the policyholder to change their
temporary/term coverage to whole life/permanent
protection
B You may convert your group life at termination of
employment to?
A. term
B. whole life
C. either a or b
D. none of these
level term the face amount and the premium stay the same for
the policy period or term
decreasing term the face amount decreases for the life of the policy
down to zero at the end of the term or expiration
date of the contract
credit life pays off the balance of a loan at insured's death
increasing term the face amount increases for the life of the policy;
starts at zero/no value; not sold very often
https://quizlet.com/1168116106/tn-life-and-health-insurance-exam-questions-answers-100-verified-solutions-2026-update-2026-study-guide-exam-fla… 2/22
, 4/15/26, 6:49 AM TN Life and Health Insurance Exam Questions & Answers | 100% Verified solutions (2026) UPDATE |2026!! STUDY GUIDE EXAM …
return of premium a rider that at death pays an additional amount of
money equal to all premiums paid up to your time
of death
annually renewable expires each year, but is renewable for another
year; premium increases each year
whole life life insurance policy that covers the whole of life or
to age 100
continuous pay pay the same premium until age 100 when the
policy pays off to owner
limited pay premium is paid up before age 100; higher premium
and higher cash value
single pay premium is paid up in one payment
20 Pay Life premium is paid up in 20 yrs
Life Paid Up at 65 premium paid up at age 65
modified whole life premium begins very low (term) and changes to
whole life with one raise in premium after 3-5 years
then premium is constant for life of policy
graded premium whole life premium begins very low (term) and raises each
year for 5-10 years then premium is constant for life
of policy
endowment policy matures before age 100 at a specific age or
date; higher premium and cash value
https://quizlet.com/1168116106/tn-life-and-health-insurance-exam-questions-answers-100-verified-solutions-2026-update-2026-study-guide-exam-fla… 3/22
