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Terms in this set (51)
#1. b)
In a survivorship life Upon the last death
policy, when does the
insurer pay the death
benefit?
a)
If the insured survives
to age 100
b)
Upon the last death
c)
Upon the first death
d)
Half at the first death, and
half at the
second death
,#3. d)
A father owns a life The insured's premiums will be waived until she is 21
insurance policy on his
15-year-old daughter.
The policy contains the
optional Payor Benefit
rider. If the
father becomes disabled,
what will happen to the
life insurance
premiums?
a)
The premiums will
become tax deductible
until the insured's
18th birthday.
b)
Since it is the
policyowner, and not the
insured, who has become
disabled, the life
insurance policy will not
be affected.
c)
The insured will have to
pay premiums for 6
months. If at the end of
this period the
father is still disabled,
the insured will be
refunded the premiums.
d)
The insured's premiums
will be waived until she
is 21.
,#7. a)
A rider attached to a Other-insured rider.
life insurance policy
that provides coverage
on the insured's family
members is called the
a)
Other-
insured
rider. b)
Change of
insured rider.
c)
Juvenil
e rider.
d)
Payor rider.
#9. b)
Annually renewable term Increases annually.
policies provide a level
death benefit for a
premium that
a)
Fluctu
ates.
b)
Increases
annually.
c)
Decreases
annually.
d)
Remains level.
, #10. d)
An insured owns a life Universal life
insurance policy. To be
able to pay some of her
medical bills, she
withdraws a portion of
the policy's cash value.
There is a limit for a
withdrawal and the
insurer charges a fee.
What type of
policy does the
insured most likely
have? a)
Adjusta
ble life
b)
Term
life
c)
Limite
d pay
d)
Universal life
#11. d)
When an annuity is Annuitant
written, whose life
expectancy is taken into
account?
a)
Benef
iciary
b)
Life expectancy is not a
factor when writing an
annuity.
c)
Ow
Questions and Correct Answers | Verified Answers | Just Released | Newest
Version
Terms in this set (51)
#1. b)
In a survivorship life Upon the last death
policy, when does the
insurer pay the death
benefit?
a)
If the insured survives
to age 100
b)
Upon the last death
c)
Upon the first death
d)
Half at the first death, and
half at the
second death
,#3. d)
A father owns a life The insured's premiums will be waived until she is 21
insurance policy on his
15-year-old daughter.
The policy contains the
optional Payor Benefit
rider. If the
father becomes disabled,
what will happen to the
life insurance
premiums?
a)
The premiums will
become tax deductible
until the insured's
18th birthday.
b)
Since it is the
policyowner, and not the
insured, who has become
disabled, the life
insurance policy will not
be affected.
c)
The insured will have to
pay premiums for 6
months. If at the end of
this period the
father is still disabled,
the insured will be
refunded the premiums.
d)
The insured's premiums
will be waived until she
is 21.
,#7. a)
A rider attached to a Other-insured rider.
life insurance policy
that provides coverage
on the insured's family
members is called the
a)
Other-
insured
rider. b)
Change of
insured rider.
c)
Juvenil
e rider.
d)
Payor rider.
#9. b)
Annually renewable term Increases annually.
policies provide a level
death benefit for a
premium that
a)
Fluctu
ates.
b)
Increases
annually.
c)
Decreases
annually.
d)
Remains level.
, #10. d)
An insured owns a life Universal life
insurance policy. To be
able to pay some of her
medical bills, she
withdraws a portion of
the policy's cash value.
There is a limit for a
withdrawal and the
insurer charges a fee.
What type of
policy does the
insured most likely
have? a)
Adjusta
ble life
b)
Term
life
c)
Limite
d pay
d)
Universal life
#11. d)
When an annuity is Annuitant
written, whose life
expectancy is taken into
account?
a)
Benef
iciary
b)
Life expectancy is not a
factor when writing an
annuity.
c)
Ow
