Life Insurance Chapter 6 Q&A at Indiana State University | Flashcards & Summaries

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TESTE DEIN WISSEN
Which of the following features of a group term-life Policy enables …. Without providing evidence of insurability
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TESTE DEIN WISSEN
Conversion privilege
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TESTE DEIN WISSEN
On January 3, an insured accepts delivery of a a whole lire policy that has an effective
Date of December 22 of the previous year. The policy contains a six month waiver of
Premium provision.if the insured become disabled on January 6 as a result of an
Accident and the disability continue beyond July 6, the insurance company will.
Lösung anzeigen
TESTE DEIN WISSEN
Continue the coverage and refund the premium paid daring the period of disability
Lösung ausblenden
TESTE DEIN WISSEN
A 30 year-old prospective insured is considering the purchase of a life insurance
Policy. if all of the following policies have the same face amount, which would require
The largest annual premium
Lösung anzeigen
TESTE DEIN WISSEN
20-pay life
Lösung ausblenden
TESTE DEIN WISSEN
Under the internal revenue code, a portion of the employer paid premium of group
Term lire insurance is taxable for an employer whose coverage exceed what minimum
Amount?
Lösung anzeigen
TESTE DEIN WISSEN
50,000
Lösung ausblenden
TESTE DEIN WISSEN
The accelerated death benefit in a life insurance contract can be accessed by which
Of the following method?
Lösung anzeigen
TESTE DEIN WISSEN
Having an authorized physician diagnosed  a terminal illness to the carrier with prognosis of less than one-year life expectancy
Lösung ausblenden
TESTE DEIN WISSEN
An accelerated death benefit of a life insurance policy is also known as'
Lösung anzeigen
TESTE DEIN WISSEN
Living benefit
Lösung ausblenden
TESTE DEIN WISSEN
Traditional individual retirement account ((IRA) withdrawals are generally reaches
What minimum age?
Lösung anzeigen
TESTE DEIN WISSEN
59 1/2
Lösung ausblenden
TESTE DEIN WISSEN
If an insured dies during the contestable period of a life insurance Policy the
Insurance company will NOT pay the Policy proceeds in which of the following situatio?
Lösung anzeigen
TESTE DEIN WISSEN
There was a material misrepresentation in the application
Lösung ausblenden
TESTE DEIN WISSEN
An application for a life insurgence policy that is submitted with the initial premium
Is legally considered to be:
Lösung anzeigen
TESTE DEIN WISSEN
An offer
Lösung ausblenden
TESTE DEIN WISSEN
J, a 30-year old prospective insured plans to retire at age 60 and wants to purchase
Life Insurance that offer level premium and life protection. If J also want the Policy to
Be paid up when J retires, J should buy;
Lösung anzeigen
TESTE DEIN WISSEN
30-pay life
Lösung ausblenden
TESTE DEIN WISSEN
A beneficiary who must consent to a charge in the beneficiary designation in life
Insurance Policy is revered to as:
Lösung anzeigen
TESTE DEIN WISSEN
An irrevocable beneficiary
Lösung ausblenden
TESTE DEIN WISSEN
Dividends paid on a life Insurance policy are:
Lösung anzeigen
TESTE DEIN WISSEN
Projected but not guaranteed
Lösung ausblenden
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Q:
Which of the following features of a group term-life Policy enables …. Without providing evidence of insurability
A:
Conversion privilege
Q:
On January 3, an insured accepts delivery of a a whole lire policy that has an effective
Date of December 22 of the previous year. The policy contains a six month waiver of
Premium provision.if the insured become disabled on January 6 as a result of an
Accident and the disability continue beyond July 6, the insurance company will.
A:
Continue the coverage and refund the premium paid daring the period of disability
Q:
A 30 year-old prospective insured is considering the purchase of a life insurance
Policy. if all of the following policies have the same face amount, which would require
The largest annual premium
A:
20-pay life
Q:
Under the internal revenue code, a portion of the employer paid premium of group
Term lire insurance is taxable for an employer whose coverage exceed what minimum
Amount?
A:
50,000
Q:
The accelerated death benefit in a life insurance contract can be accessed by which
Of the following method?
A:
Having an authorized physician diagnosed  a terminal illness to the carrier with prognosis of less than one-year life expectancy
Mehr Karteikarten anzeigen
Q:
An accelerated death benefit of a life insurance policy is also known as'
A:
Living benefit
Q:
Traditional individual retirement account ((IRA) withdrawals are generally reaches
What minimum age?
A:
59 1/2
Q:
If an insured dies during the contestable period of a life insurance Policy the
Insurance company will NOT pay the Policy proceeds in which of the following situatio?
A:
There was a material misrepresentation in the application
Q:
An application for a life insurgence policy that is submitted with the initial premium
Is legally considered to be:
A:
An offer
Q:
J, a 30-year old prospective insured plans to retire at age 60 and wants to purchase
Life Insurance that offer level premium and life protection. If J also want the Policy to
Be paid up when J retires, J should buy;
A:
30-pay life
Q:
A beneficiary who must consent to a charge in the beneficiary designation in life
Insurance Policy is revered to as:
A:
An irrevocable beneficiary
Q:
Dividends paid on a life Insurance policy are:
A:
Projected but not guaranteed
Life Insurance Chapter  6 Q&A

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