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Questions and Answers
Which of the following actions can an insured with an irrevocable beneficiary NOT do without beneficiary permission?
Which of the following actions can an insured with an irrevocable beneficiary NOT do without beneficiary permission?
- Avail of a non-forfeiture option
- Discontinue premium payments
- Change the policy coverage amount
- Alter the dividend option presently in effect (correct)
Which of the following is NOT a function of an application for a life insurance policy?
Which of the following is NOT a function of an application for a life insurance policy?
- To convey to the company the desire of the applicant to obtain insurance
- To furnish information on which contact of life insurance may be written
- To furnish initial information as to insurability
- To give details pertaining to non-forfeiture options (correct)
Which of the following is true about both endowment and term life insurance policies?
Which of the following is true about both endowment and term life insurance policies?
- Renewal and conversion privileges are available (correct)
- Insurance protection will be limited to a specific period
- No cash value is available to the policy owner during the term of the policy
- A benefit will be paid at the end of the period of coverage if the person insured is then alive
In a life insurance policy, what is the purpose of an application?
In a life insurance policy, what is the purpose of an application?
Which of the following is a requirement for a policy to have cash value available to the policy owner during the term?
Which of the following is a requirement for a policy to have cash value available to the policy owner during the term?
Which of the following actions can an insured with an irrevocable beneficiary NOT do without beneficiary permission?
Which of the following actions can an insured with an irrevocable beneficiary NOT do without beneficiary permission?
What is the purpose of an application for a life insurance policy?
What is the purpose of an application for a life insurance policy?
Which of the following is NOT a function of an application for a life insurance policy?
Which of the following is NOT a function of an application for a life insurance policy?
Which of the following is true about both endowment and term life insurance policies?
Which of the following is true about both endowment and term life insurance policies?
What is not a function of an application for a life insurance policy?
What is not a function of an application for a life insurance policy?
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