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QuestionAnswer
What benefit does the payor clause on a juvenile life policy have? Premiums are waved if the juvenile becomes disabled
A _____ rider may be used to include coverage for children under their childrens life insurance policy Term
Which provision states who may select policy options designate and name a beneficiary Owners rights
M has an insurance policy that also has an outstanding policy loan at the time of M's death. The insurer will deduct the outstanding loan balance from the Policy proceeds
Which non-forfeiture option continue a build up of cash value Reduced Paid up
Which type of life insurance allow the policyowner to have level premiums and also choose from a selection of investment options? Variable Life
S buys a 10k whole life policy in 2003 and pays an annyal premium of 100 dollars. S dies 5 years later in 2008 and the insurer pays the beneficiary 10,500. Whay kind of rider did S include in the policy? Return of premium rider
A policy loan is made possible by which provision? Cash value provision
A return of premium life insurance policy is Whole life and increasing term
This type of of rider appears on a juvenile life insurance policy Payor benefit rider
Daryan owns a whole life policy that was purchased 10 years ago. If the premium payments suddenly stop and Daryan takes no action, which Nonforfeiture option will the insurer likely proceed with? Extended Term
An insured inability to perform two or more activities of daily living may trigger which type of policy rider? Long Term Care
Dividends paid from a life insurance policy are issued by the insurer
The agreement in a life insurance contract that states a specific sum of money will be paid to a designated person upon an insureds death is called.. Insuring Agreement which sets for the company's basic promise to pay benefits upon the insureds death
An insurer may normally delay payment of a cash value loan or surrender value for up to 6 months
A life insurance may only be assigned as collateral by The policy owner
The option that provides an additional death benefit for a limited amount of time at the lowest possible cost is called.. Accidental Death and Dismemberment
How are policy owner dividend treated in regards to tax Interest on accumulations is taxed
The accelerated death benefit provision is also know in a life insurance policy is also know as? Living Benefit
A provision in life insurance policy that pays the policy owner an amount that does not surpass the guaranteed cash value is called Policy Loan Provision
The consideration clause in a life insurance contract contains what pertinent information? Amount of premium payments and when they are due
Which life insurance rider allows an applicant to have access to coverage? Term rider
additional coverage could be added to a policy by adding a decreasing term rider
genuinelly added to a life insurance policy to cover a juvenile on i life insurance policy payor clause benefit clause
cost of living rider gives the insured additional death benefits
Created by: 100000294574632
 

 



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