NEW YORK STATE LATEST
LIFE INSURANCE
SERIES 17-51
Fixed Period - ANSWERS-If the beneficiary is concerned about a
payout for a particular period of time, the _______ settlement option
should be selected.
Variable whole life: - ANSWERS-The premium is determined by the
insurer and remains fixed and level throughout the contract
The owner may select which separate account they want their premium
to be invested in
The policy provides for both a general account and a separate account
Interest Only - ANSWERS-If a beneficiary has the choice and is
interested in capital conservation, then which of the following settlement
options should be chosen?
False Advertising - ANSWERS-The issuance or circulation of any
illustration or statement indicating that a corporation is permitted to
transact any business not authorized by its certificate of authority
constitutes
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PAGE
1
, NEW YORK STATE LATEST
LIFE INSURANCE
SERIES 17-51
Reinstating a lapsed policy - ANSWERS-the insured must provide
evidence of insurability and all back premiums plus interest must be
paid.
Annuity purpose - ANSWERS-Provide a steady stream of income to an
individual, typically retirement. It protects against outliving one's
retirement income by providing an income for life.
Annual Renewable Term Premiums - ANSWERS-Term premiums
increase as the insured's age increases.
Noncontributory Group Life Plan
Contributory Group Life Plan - ANSWERS-100% eligible employees
75% eligible employees
Increase - ANSWERS-When an insured decides to change her mode of
premium payment from annually to monthly, the total premium due
would:
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PAGE
2
, NEW YORK STATE LATEST
LIFE INSURANCE
SERIES 17-51
Social Security - ANSWERS-Retirement: up to age 67 monthly income
equal to PIA. Covered workers receive retirement benefits as early as
age 62
Death Benefit: A one time lump sum payment of $255 in total may be
made after the taxpayer's death
Survivor Benefits: Payable to eligible dependents of fully insured
deceased workers.
Blackout Period - ANSWERS-Youngest child age 16 and the spouse is
eligible for retirement benefits at age 60.
Survivors Benefits is based on - ANSWERS-Covered worker's Primary
Insurance Amount
Group Insurance Plan - ANSWERS-Owned by employer, creditor, or
association
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PAGE
3
LIFE INSURANCE
SERIES 17-51
Fixed Period - ANSWERS-If the beneficiary is concerned about a
payout for a particular period of time, the _______ settlement option
should be selected.
Variable whole life: - ANSWERS-The premium is determined by the
insurer and remains fixed and level throughout the contract
The owner may select which separate account they want their premium
to be invested in
The policy provides for both a general account and a separate account
Interest Only - ANSWERS-If a beneficiary has the choice and is
interested in capital conservation, then which of the following settlement
options should be chosen?
False Advertising - ANSWERS-The issuance or circulation of any
illustration or statement indicating that a corporation is permitted to
transact any business not authorized by its certificate of authority
constitutes
END OF
PAGE
1
, NEW YORK STATE LATEST
LIFE INSURANCE
SERIES 17-51
Reinstating a lapsed policy - ANSWERS-the insured must provide
evidence of insurability and all back premiums plus interest must be
paid.
Annuity purpose - ANSWERS-Provide a steady stream of income to an
individual, typically retirement. It protects against outliving one's
retirement income by providing an income for life.
Annual Renewable Term Premiums - ANSWERS-Term premiums
increase as the insured's age increases.
Noncontributory Group Life Plan
Contributory Group Life Plan - ANSWERS-100% eligible employees
75% eligible employees
Increase - ANSWERS-When an insured decides to change her mode of
premium payment from annually to monthly, the total premium due
would:
END OF
PAGE
2
, NEW YORK STATE LATEST
LIFE INSURANCE
SERIES 17-51
Social Security - ANSWERS-Retirement: up to age 67 monthly income
equal to PIA. Covered workers receive retirement benefits as early as
age 62
Death Benefit: A one time lump sum payment of $255 in total may be
made after the taxpayer's death
Survivor Benefits: Payable to eligible dependents of fully insured
deceased workers.
Blackout Period - ANSWERS-Youngest child age 16 and the spouse is
eligible for retirement benefits at age 60.
Survivors Benefits is based on - ANSWERS-Covered worker's Primary
Insurance Amount
Group Insurance Plan - ANSWERS-Owned by employer, creditor, or
association
END OF
PAGE
3
