GA Life Insurance Exam | Questions &
Answers | 100% Verified | Fast Pass
Prep
When does an Endowment Life policy mature? -✓✓When the Insured dies or reaches
the age or date of endowment.
A securities license is required to sell which of the following? -✓✓Variable Universal Life
Which is a community based provider of insurance benefits: -✓✓PPO
The Payor Benefit Rider is commonly found in policies insuring: -✓✓juveniles.
A policy's coverage becomes effective when? -✓✓The policy is physically delivered to
the applicant, assuming the premium has been paid.
Under Social Security, one who is Fully Insured has worked and contributed to FICA for
at least: -✓✓40 quarters.
Under an IRA: -✓✓Payouts must begin by 72.
Group life paid for by the employer is tax deductible for the employer. The premium is
not considered to be taxable income for the employee unless the amount of the death
benefit exceeds: -✓✓$50,000.
Life insurance protects against: -✓✓dying too soon.
Each of the following Annuity payout options may continue to pay a benefit to a
surviving spouse EXCEPT: -✓✓A Straight Life Annuity.
Which provision found in Disability policies stipulates that the Insured must wait 60 days
after filing a claim before filing a lawsuit against the Insurer? -✓✓Legal Action
Which of the following is a characteristic of Long Term Care policies? -✓✓They must
contain a nonforfeiture provision.
Social Security provides each of the following benefits EXCEPT: -✓✓Unemployment
benefits
Which of the following permits a Term Policy to be changed to a permanent policy
without proof of insurability? -✓✓Conversion Provision
, Which section of the health policy contains the pre-existing conditions? -✓✓Insuring
Clause
Indemnity means: -✓✓Being made whole.
Who can make changes to an insurance policy? -✓✓An executive officer of the
insurance company.
Under what circumstances can a policy owner exercise the Free Look Provision? -
✓✓For any reason as long as it is within the specified time period.
Which section of the life policy may provide that the policy will not pay claims due to
military action, foreign travel, or suicide? -✓✓Insuring Agreement
The DI policy's Time of Payment of Claims provision permits each of the following
benefit payment modes EXCEPT: -✓✓Quarterly
Paul has a Group Health plan at work. His employer pays the whole premium and Paul
does not have to pay anything for the coverage. What is this type of plan called? -✓✓A
noncontributory plan.
What is the name of the policy that is designed to protect a company if a key person
dies? -✓✓Key Person Life Insurance
What is the standard grace period for Life Insurance policies? -✓✓31 days
What happens when the whole life policy's grace period expires? -✓✓The policy lapses.
Which of the following will an AD&D policy cover? -✓✓Traveling as a fare-paying
passenger on a regularly scheduled flight.
What is used to create a Return of Premium Rider? -✓✓Increasing Term Insurance
Jim has a Group Health plan at work. He has a heart attack and decides to leave his
job. Within 31 days, Jim applies to convert his group coverage to an individual policy,
what will the Insurer do? -✓✓Issue a standard policy without subjecting him to a pre-
existing condition exclusion.
Which of the following statements about Universal Life is CORRECT? -✓✓The
premiums are flexible.
Which policy provision requires the Insured to pay a specified dollar amount of the loss?
-✓✓Deductible
Answers | 100% Verified | Fast Pass
Prep
When does an Endowment Life policy mature? -✓✓When the Insured dies or reaches
the age or date of endowment.
A securities license is required to sell which of the following? -✓✓Variable Universal Life
Which is a community based provider of insurance benefits: -✓✓PPO
The Payor Benefit Rider is commonly found in policies insuring: -✓✓juveniles.
A policy's coverage becomes effective when? -✓✓The policy is physically delivered to
the applicant, assuming the premium has been paid.
Under Social Security, one who is Fully Insured has worked and contributed to FICA for
at least: -✓✓40 quarters.
Under an IRA: -✓✓Payouts must begin by 72.
Group life paid for by the employer is tax deductible for the employer. The premium is
not considered to be taxable income for the employee unless the amount of the death
benefit exceeds: -✓✓$50,000.
Life insurance protects against: -✓✓dying too soon.
Each of the following Annuity payout options may continue to pay a benefit to a
surviving spouse EXCEPT: -✓✓A Straight Life Annuity.
Which provision found in Disability policies stipulates that the Insured must wait 60 days
after filing a claim before filing a lawsuit against the Insurer? -✓✓Legal Action
Which of the following is a characteristic of Long Term Care policies? -✓✓They must
contain a nonforfeiture provision.
Social Security provides each of the following benefits EXCEPT: -✓✓Unemployment
benefits
Which of the following permits a Term Policy to be changed to a permanent policy
without proof of insurability? -✓✓Conversion Provision
, Which section of the health policy contains the pre-existing conditions? -✓✓Insuring
Clause
Indemnity means: -✓✓Being made whole.
Who can make changes to an insurance policy? -✓✓An executive officer of the
insurance company.
Under what circumstances can a policy owner exercise the Free Look Provision? -
✓✓For any reason as long as it is within the specified time period.
Which section of the life policy may provide that the policy will not pay claims due to
military action, foreign travel, or suicide? -✓✓Insuring Agreement
The DI policy's Time of Payment of Claims provision permits each of the following
benefit payment modes EXCEPT: -✓✓Quarterly
Paul has a Group Health plan at work. His employer pays the whole premium and Paul
does not have to pay anything for the coverage. What is this type of plan called? -✓✓A
noncontributory plan.
What is the name of the policy that is designed to protect a company if a key person
dies? -✓✓Key Person Life Insurance
What is the standard grace period for Life Insurance policies? -✓✓31 days
What happens when the whole life policy's grace period expires? -✓✓The policy lapses.
Which of the following will an AD&D policy cover? -✓✓Traveling as a fare-paying
passenger on a regularly scheduled flight.
What is used to create a Return of Premium Rider? -✓✓Increasing Term Insurance
Jim has a Group Health plan at work. He has a heart attack and decides to leave his
job. Within 31 days, Jim applies to convert his group coverage to an individual policy,
what will the Insurer do? -✓✓Issue a standard policy without subjecting him to a pre-
existing condition exclusion.
Which of the following statements about Universal Life is CORRECT? -✓✓The
premiums are flexible.
Which policy provision requires the Insured to pay a specified dollar amount of the loss?
-✓✓Deductible
