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Do you have trouble answering the question ” How is a family plan life insurance policy normally structured? ” related to the concept of Life Insurance? There’s no need to worry about it anymore. This post contains the correct answer to your question. How is a family plan life insurance policy normally structured? Options Whole … Read more
Group life insurance policies are generally written as
a) Monthly Renewable Term
b) Quaterly Renewable Term
c) Annually Renewable Term
d) All of the Above
To sell variable life insurance policies
a) FINRA registration.
b) A securities license.
c) A life insurance license.
d) SEC registration.
When must insurable interest exist in a life insurance policy
a) It must continue for the life of the policy.
b) It must exist when a claim is submitted.
c) Insurable interest must exist only at the time the applicant enters into a life insurance contract.
d) If no insurable interest exists when a policyowner buys a life insurance policy, the contract may still be enforced.
All of the following are personal uses of life insurance except
a) Cash accumulation.
b) Buy-sell agreement.
c) Survivor protection.
d) Estate creation
All of the following are considered appropriate uses of life insurance for business purposes except
a) Attracting quality employees by offering a group life plan
b) Funding an entity buy-sell agreement
c) Protecting the business by covering key employees with life insurance
d) Protecting the business by covering entry level employees with life insurance
Which type of life insurance policy generates immediate cash value
A. Single premium
B. Level Term
C. Decreasing Term
D. Continuous Premium
All of the following are characteristics of a group life insurance plan except
A. Group underwriting
B. Master contract
C. Individual underwriting
D. Probationary period
The main purpose of having Life insurance is:
a. As an avenue for long-term investment
b. As a medium for getting income tax benefits from savings
c. As a governmental programme for reducing poverty
d. As an avenue for short-term investment
e. None of the above