Life Insurance 5 Flashcards
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Which of these riders will pay a death benefit if the insured’s spouse dies?
Guaranteed insurability rider
Family term insurance rider
Family whole life insurance rider
Payor benefit rider
Family term insurance rider
A nonparticipating policy will
Provide a return of premium
Provide tax advantages
Not pay dividends
Give policy owners special privileges
Not pay dividends
How soon can the benefit payments begin with a deferred annuity?
Anytime after the date of purchase
Anytime within 12 months after date of purchase
A minimum of 6 months after date of purchase
A minimum of 12 months after date of purchase
A minimum of 12 months after date of purchase
An insurer may legally defer payment of a cash surrender value for up to:
6 months
9 months
12 months
15 months
6 months
An insurance company that is qualified and received a certification of authority from the director to sell insurance in this state is called an:
Fraternal organization
Nonadmitted insurer
Unauthorized insurer
Authorized insurer
Authorized insurer
All of these are typically sources of underwriting information for life or health insurance EXCEPT:
Consumer reports
Medical information bureau reports
Disclosure authorization response
Attending physicians statement
Disclosure authorization repsonse
A life insurance policy that has premiums fully paid up within a stated time period is called:
Stated payment insurance
Limited universal insurance
Stated modified insurance
Limited payment insurance
Limited payment insurance
An insurer may legally defer payment of a cash surrender value for up to:
6 months
9 months
12 months
15 months
6 months
The guaranty association:
Protects insureds from insolvent insurers
Pays premiums for insolvent insureds.
Provides coverage for uninsured residents
Guarantees policy loans
Protects insureds from insolvent insurers
