XCEL Chapter 5: Premiums, Proceeds, and Beneficiaries | Complete Questions and Correct Answers | Graded A+ | Verified Answers | Latest Version | Brand New Version!

XCEL Chapter 5: Premiums, Proceeds, and
Beneficiaries | Complete Questions and
Correct Answers | Graded A+ | Verified
Answers | Latest Version | Brand New
Version!

Save




Terms in this set (54)

,The premium payment mode that A) monthly
results in the highest overall cost
would be


A) monthly
B) quarterly
C) semi- annual
D) annual


Naming a contingent beneficiary C) Class designation
as "all surviving children" is
described by which term?


A) Contingent designation
B) Primary designation
C) Class designation
D) Tertiary designation

,A life insurance claim which D) named living primary beneficiaries
involves a per capita distribution
of policy proceeds would be
payable to the


A) estate of the insured only
B) estate of the deceased
beneficiaries only
C) named contingent
beneficiaries only
D) named living primary
beneficiaries

, Which of these ensures that A) Spendthrift Clause
proceeds of a life insurance
policy will be free from
attachment or seizure by the
beneficiary's creditors?


A) Spendthrift Clause
B) Protection Clause
C) Viatical Clause
D) Settlement Clause