Individual Term Life (ITL5000)

Question 1

Minimum account size for ITL5000

Answer 1

3 payers

Question 2

Terminal illness accelerated death benefit is __________________ included.

Answer 2

Automatically

Question 3

Terminal Illness accelerated death benefit advances up to ____ percent of the policy’s face amount.

Answer 3

75

Question 4

Conversion to a cash value I available before the policy _______ ______ , following the insureds ___ birthday. Evidence of insurability is or is not required.

Answer 4

Anniversary date, 75th birthday, is not

Question 5

___ and ___ year term options may be positioned as mortgage ______.

Answer 5

15, 30, protection

Question 6

At the end of the term period the policy can remain in force with rates that increase _______ based on the insured’s ________

Answer 6

Annually, current age

Question 7

PEGI requirements: the greater of ___ adult (employee/spouse) apps or ____ % participation. Other life coverage does or does not count?

Answer 7

20 or 20, does not

Question 8

Individual/non payroll sales are available as fully _________ coverage only. Premiums and issue ages are ______ as payroll sales.

Answer 8

Underwritten; the same

Question 9

Banded rates:
Band 1 - $__,_____ - $__,___
Band 2 - $ — $
Band 3 - $ — $
Band 4 - $ — $

Answer 9

10,000 - $49,999
$50K - $150k
$151k - $250k
$250,001+

Question 10

Employee Eligibility:
Must be full-time — __ + hrs per week
Employed for at least ___ days

Answer 10

20+, 90

Question 11

Issue ages:
10 yr
15 yr
20 yr
30 yr

Answer 11

16 - 75
16 - 70
16 - 65
16 - 50

Question 12

Can a spouse apply for a policy even if the employee does not?

Answer 12

Yes

Question 13

Convertible through age __ to a whole life policy _____ evidence of insurability.

Answer 13

75, without

Question 14

Face amount on a converted to whole life policy may not be greater than the _________ of the term policy.

Answer 14

Face amount

Question 15

Premiums on a term to whole converted policy will be based on the ________ ____ at the time of conversion.

Answer 15

Insureds age

Question 16

Contestibility and suicide periods in a term to whole conversion are based on the coverage effective date of ______.

Answer 16

The original policy.

Question 17

Is a spouse signature required for the spouse term rider?

Answer 17

No

Question 18

Insured spouse can convert the spouse term rider in the ____ ___ months without evidence of insurability to a whole life of the base policy______, the rider _______, or they legally divorce. Otherwise it may not even converted until the policy has been in force for how long?

Answer 18

First 12, terminates, terminates; 12 months

Question 19

What is the max face amount for children’s term rider?

Answer 19

$20k

Question 20

An insured child remains on policy until the policy _________ after their _____ birthday

Answer 20

Anniversary, 25th

Question 21

One level premium covers ____ children with the children’s term rider.

Answer 21

All

Question 22

Guaranteed purchase option allows option to increase coverage at the __, __, and __ policy anniversaries. Are health questions asked?

Answer 22

2nd, 5th, and 8th; no