Business Law > QUESTIONS & ANSWERS > XCEL Chapter 4, Questions with accurate answers. Rated A. 2022/2023 (All)
XCEL Chapter 4, Questions with accurate answers. Rated A. 2022/2023
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XCEL Chapter 4, Questions with accurate answers. Rated A. 2022/2023 John and Mary have a handicapped child that is financially dependent upon them. The death of one of the parents would not be fi... nancially disastrous, however the death of both likely would be. Which policy would be best suited for them? - ✔✔Second-to-die policy An insurance policy written after 1988 that fails to pass the seven-pay test is known as - ✔✔a modified endowment contract What is the proper order of initial life insurance premiums, from lowest to highest? - ✔✔Modified premium, ordinary life, single premium In a renewable term life insurance policy, the contract will usually - ✔✔require a higher premium payable at each renewal Which of the following is NOT a true description of non-medical life insurance? - ✔✔Applicants are not required to answer medical questions on the application A life insurance policy's limit of liability would be - ✔✔a policy's face amount Which of the following is NOT true regarding a family policy that covers children? - ✔✔Conversion of child's coverage to permanent insurance requires evidence of insurability A life insurance policy where the insured can choose where the cash value can be invested is called - ✔✔variable life [Show More]
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