Louisiana life and health insurance Exam 2026 Study
Guide Questions with 100% verified correct answers
Graded A+
Which type of policy combines the flexibility of a universal life policy with investment
choices?
• Adiustable universal life policy
• Flexible universal life policy
• Variable universal life policy
• Modified universal life policy
Variable Universal Life Policy
When the structure and flexibility of a universal life policy are combined with investment
choices, the result is a variable universal life policy.
,Which of these is NOT subject to income taxation under a Modified Endowment Contract
(MEC)?
• Loan against the cash value
• Policy withdrawal
• Policy dividend
• Death benefit
Death Benefit
The death benefit would NOT be subject to income tax under a Modified Endowment
Contract (MEC).
A limited payment whole life policy provides?
• protection for 20 ears
• lifetime protection
• protection for more than one person
• discounted premiums
Lifetime Protection
Premiums on limited payment whole life insurance are paid for a limited number of years,
but the benefits last a lifetime.
,A life insurance policy written on one contract for two people in which it is payable upon
the first death is called?
• Split
• Shared
• Joint
• Survivorship
Joint
A joint life insurance policy covers the lives of two people and is payable upon the first
death.
What kind of life insurance policy covers two or more people with the death benefit
payable upon the last person's death?
• Dual Life insurance
• Joint Life insurance
• Last Survivor Life insurance
• Shared Life insurance
Last Survivor Life Insurance
Coverage of two or more individuals with the death benefit payable upon the last person's
death is a feature of last survivor insurance.
, A life insurance policy that is subject to a contract interest rate is referred to as?
• adiustable life
• group life
• term life
• universal life
Universal Life
Universal life is subject to a contract interest rate or a current annual interest rate.
Term insurance is appropriate for someone who?
• seeks living benefits for themselves
• seeks a policy that builds cash value
• seeks temporary protection and lower premiums
• seeks permanent protection and higher premiums
Seeks temporary protection and lower premiums
What happens to the coverage under a children's term rider when that child reaches a
certain specified age?
• Coverage decreases automatically
• Coverage increases automatically
• Coverage remains as long as proof of insurabilitv is provided
• Coverage is eliminated
Coverage is Eliminated
Guide Questions with 100% verified correct answers
Graded A+
Which type of policy combines the flexibility of a universal life policy with investment
choices?
• Adiustable universal life policy
• Flexible universal life policy
• Variable universal life policy
• Modified universal life policy
Variable Universal Life Policy
When the structure and flexibility of a universal life policy are combined with investment
choices, the result is a variable universal life policy.
,Which of these is NOT subject to income taxation under a Modified Endowment Contract
(MEC)?
• Loan against the cash value
• Policy withdrawal
• Policy dividend
• Death benefit
Death Benefit
The death benefit would NOT be subject to income tax under a Modified Endowment
Contract (MEC).
A limited payment whole life policy provides?
• protection for 20 ears
• lifetime protection
• protection for more than one person
• discounted premiums
Lifetime Protection
Premiums on limited payment whole life insurance are paid for a limited number of years,
but the benefits last a lifetime.
,A life insurance policy written on one contract for two people in which it is payable upon
the first death is called?
• Split
• Shared
• Joint
• Survivorship
Joint
A joint life insurance policy covers the lives of two people and is payable upon the first
death.
What kind of life insurance policy covers two or more people with the death benefit
payable upon the last person's death?
• Dual Life insurance
• Joint Life insurance
• Last Survivor Life insurance
• Shared Life insurance
Last Survivor Life Insurance
Coverage of two or more individuals with the death benefit payable upon the last person's
death is a feature of last survivor insurance.
, A life insurance policy that is subject to a contract interest rate is referred to as?
• adiustable life
• group life
• term life
• universal life
Universal Life
Universal life is subject to a contract interest rate or a current annual interest rate.
Term insurance is appropriate for someone who?
• seeks living benefits for themselves
• seeks a policy that builds cash value
• seeks temporary protection and lower premiums
• seeks permanent protection and higher premiums
Seeks temporary protection and lower premiums
What happens to the coverage under a children's term rider when that child reaches a
certain specified age?
• Coverage decreases automatically
• Coverage increases automatically
• Coverage remains as long as proof of insurabilitv is provided
• Coverage is eliminated
Coverage is Eliminated
