PRU LIFE EXAM at Far Eastern University | Flashcards & Summaries

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Lernmaterialien für PRU LIFE EXAM an der Far Eastern University

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TESTE DEIN WISSEN
Indicate which of the following is not a function of an application for life insurance policy.
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TESTE DEIN WISSEN
To give details pertaining to non- forfeiture options 
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TESTE DEIN WISSEN
A father has his present life insurance payable to his estate and because he has now retired he wants to pass the policy on to his son who will assume the premium payments.Which of the following will he have to appoint his son to achieve his desire and protect the son from Estate Tax Liability?
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TESTE DEIN WISSEN
Absolute assignee
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TESTE DEIN WISSEN
A policy where an irrevocable beneficiary has been designated the insured, without the beneficiary premission , can 
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TESTE DEIN WISSEN
Discontinue premium payments
Lösung ausblenden
TESTE DEIN WISSEN
What are the basic settlement options?
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TESTE DEIN WISSEN
Fixed amount, fixed period, life income , interest on deposit
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TESTE DEIN WISSEN
An insurance company generally has the right to rescind a life insurance policy if:
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TESTE DEIN WISSEN
Company discovers at any time that the policy owner was actually a minor at the time of applications
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TESTE DEIN WISSEN
Which of the following is the least important reason for requiring that insurance agents be licensed?
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TESTE DEIN WISSEN
To provide additional income to the government through license fees
Lösung ausblenden
TESTE DEIN WISSEN
In the event that a policy owner elects the paid-up insurance options
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TESTE DEIN WISSEN
The premium cease and protection continue with a reduced amount of coverage 
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TESTE DEIN WISSEN
The company will allow a policy change from a higher premium to a lower premium provided the insured.
Lösung anzeigen
TESTE DEIN WISSEN
Present s satisfactory evidence of insurability
Lösung ausblenden
TESTE DEIN WISSEN
A policy which permits the policyholder to vary the level of premiums, the sum insured and has its cash values dependent upon the investment performance and the level of premium paid is known as _____ policy.
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TESTE DEIN WISSEN
Universal life
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TESTE DEIN WISSEN
Which of the following statements about" Disability waiver of premium rider" is false?
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TESTE DEIN WISSEN
The insured has die while disabled
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TESTE DEIN WISSEN
In most life insurance application, the largest amount of information requested is Data which
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TESTE DEIN WISSEN
Relates to the insurability of the applicant
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TESTE DEIN WISSEN
Both endowment and term life policies provide that
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TESTE DEIN WISSEN
Insurance protection will be limited to a specific period
Lösung ausblenden
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Q:
Indicate which of the following is not a function of an application for life insurance policy.
A:
To give details pertaining to non- forfeiture options 
Q:
A father has his present life insurance payable to his estate and because he has now retired he wants to pass the policy on to his son who will assume the premium payments.Which of the following will he have to appoint his son to achieve his desire and protect the son from Estate Tax Liability?
A:
Absolute assignee
Q:
A policy where an irrevocable beneficiary has been designated the insured, without the beneficiary premission , can 
A:
Discontinue premium payments
Q:
What are the basic settlement options?
A:
Fixed amount, fixed period, life income , interest on deposit
Q:
An insurance company generally has the right to rescind a life insurance policy if:
A:
Company discovers at any time that the policy owner was actually a minor at the time of applications
Mehr Karteikarten anzeigen
Q:
Which of the following is the least important reason for requiring that insurance agents be licensed?
A:
To provide additional income to the government through license fees
Q:
In the event that a policy owner elects the paid-up insurance options
A:
The premium cease and protection continue with a reduced amount of coverage 
Q:
The company will allow a policy change from a higher premium to a lower premium provided the insured.
A:
Present s satisfactory evidence of insurability
Q:
A policy which permits the policyholder to vary the level of premiums, the sum insured and has its cash values dependent upon the investment performance and the level of premium paid is known as _____ policy.
A:
Universal life
Q:
Which of the following statements about" Disability waiver of premium rider" is false?
A:
The insured has die while disabled
Q:
In most life insurance application, the largest amount of information requested is Data which
A:
Relates to the insurability of the applicant
Q:
Both endowment and term life policies provide that
A:
Insurance protection will be limited to a specific period
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