Life insurance FINAL EXAM 100% Pass
If, at the time of an insured's death, the insurance company discovers that the insured's age was
misstated on the application for life insurance, the company will most likely ✔✔pay
...
Life insurance FINAL EXAM 100% Pass
If, at the time of an insured's death, the insurance company discovers that the insured's age was
misstated on the application for life insurance, the company will most likely ✔✔pay the policy
proceeds in the amount the premiums would have purchased at the insured's actual age
Which type of life insurance beneficiary requires his/her consent when a change of beneficiary is
attempted by the policyowner? ✔✔Irrevocable beneficiary
In a life insurance policy, which feature states that the policy will not cover certain risks?
✔✔Exclusion
Which of the following BEST describes Credit Life insurance? ✔✔Insurance issued on a debtor
to cover outstanding balances on installment loans
The Commissioner of Insurance may issue a temporary agent's license for a maximum of how
many days? ✔✔90
What kind of special need would a policyowner require with an Adjustable Life insurance
policy? ✔✔flexible premiums
An agent MUST do which of the following during a sales presentation for a participating life
insurance policy? ✔✔Include a statement that dividends are not guaranteed
A life insurance arrangement which circumvents insurable interest statutes is called ✔✔InvestorOriginated Life Insurance
The option that provides an additional death benefit for a limited amount of time at the lowest
possible cost is called a(n) ✔✔Accidental Death and Dismemberment rider (AD&D)
Under the Texas insurance code, which of the following statements about the Suicide clause is
CORRECT? ✔✔Suicide may not be a defense against payment after the second year
A term life insurance policy matures ✔✔upon the insured's death during the term of the policy
Under Texas insurance law, the term "transacting business" includes ✔✔collecting premiums
insurance agent licenses normally must be renewed every ✔✔2 years
A foreign insurance company is one that is incorporated ✔✔under the laws of another state
An insurance agent does NOT have fiduciary responsibilities to ✔✔other agents
Which of these actions is taken when a policyowner uses a Life Insurance policy as collateral for
a bank loan? ✔✔collateral assignment
Which of these do NOT constitute policy delivery? ✔✔Policy issued with a rating
An insurance company may NOT reject a prospective insured's life application on the basis of
which of the following factors? ✔✔gender
If X wants to buy $50,000 worth of permanent protect
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