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Questions and Answers
In endowment and term life policies, what is provided?
In endowment and term life policies, what is provided?
- A benefit will be paid at the end of the period of coverage if the person is then alive (correct)
- No cash value is available to the policy owner during the term of the policy
- Renewal and conversion privileges are available
- Insurance protection will be limited to a specified period
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?
- To give details pertaining to non-forfeiture options (correct)
- To convey to the company the desire of the applicant to obtain insurance
- To furnish information on which the contract of life insurance may be written
- To furnish initial information as to insurability
To pass a life insurance policy on to his son and protect him from Estate Tax Liability, what should a retired father appoint his son as?
To pass a life insurance policy on to his son and protect him from Estate Tax Liability, what should a retired father appoint his son as?
- Irrevocable primary beneficiary
- Irrevocable secondary beneficiary
- Revocable primary beneficiary
- Absolute assignee (correct)
What is true about endowment and term life policies?
What is true about endowment and term life policies?
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In what way does an application for a life insurance policy not function?
In what way does an application for a life insurance policy not function?
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