New Jersey life insurance Exam | Questions
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Terms in this set (49)
adhesion (take it or leave it) no changing the contract.
take it as is.
aleatory contract (uneven) You will never pay as much in
premium as what you get in coverage
peril died of a certain way
, Hazard cause of loss
Variable Universal Life requires FINRA license
the difference between insure vs. Insure (must pay policy benefit "the company")
insured insured (the customer)
S & P 500 Equity index annuity would have a minimum
guaranteed interest rate, but may have a higher
rate of return
who must sign application of Owner, insured, and agent all three must sign
insurance
Differed compensation plans an example of a non qualified retirement plan
Qualified retirement plans Keogh, 401K, IRA
conditional receipt serves as proof that the agent confirmed the
insurance company will fully insure the
applicant
accelerated living benefit pays out death benefit while alive due to illness
live threatning reason
convertible insurance the type of policy that can be changed from
one that doen't usually have cash value to one
that does
with 100% Correct Answers | Verified | Latest
Update 2026
Save
Practice questions for this set
Learn 1 /7 Study using Learn
Terms in this set (49)
adhesion (take it or leave it) no changing the contract.
take it as is.
aleatory contract (uneven) You will never pay as much in
premium as what you get in coverage
peril died of a certain way
, Hazard cause of loss
Variable Universal Life requires FINRA license
the difference between insure vs. Insure (must pay policy benefit "the company")
insured insured (the customer)
S & P 500 Equity index annuity would have a minimum
guaranteed interest rate, but may have a higher
rate of return
who must sign application of Owner, insured, and agent all three must sign
insurance
Differed compensation plans an example of a non qualified retirement plan
Qualified retirement plans Keogh, 401K, IRA
conditional receipt serves as proof that the agent confirmed the
insurance company will fully insure the
applicant
accelerated living benefit pays out death benefit while alive due to illness
live threatning reason
convertible insurance the type of policy that can be changed from
one that doen't usually have cash value to one
that does
