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Which welfare program provides assistance to the needy? CORRECT ANSWER-Medicaid
Barbara has the right to change the beneficiary designation on her life insurance policy. Barbara's beneficiary is a(n):- CORRECT ANSWER-revocable beneficiary
Within how many calendar days must all clean electronic health insurance claims be paid in Alabama? -CORRECT ANSWER-30
Which type of term policy allows the policyowner to switch to permanent insurance? - CORRECT ANSWER-Convertible term
What does renewable term guarantee? CORRECT ANSWER- The insured's insurability
If an insured commits suicide, a life insurance policy's face amount will be paid only after the policy has been in force for at least: - CORRECT ANSWER - two years
Which of the following statements concerning a life insurance policy is TRUE? - CORRECT ANSWER
- An issued policy can never be changed by a producer
The proceeds of a life insurance policy can be paid in a form other than a lump-sum payment. These forms of payment are called: CORRECT ANSWER-settlement options
The withholding of facts in an insurance application is called: CORRECT ANSWER-concealment
A licensed Alabama insurance producer would NOT be disciplined by the Commissioner of Insurance for: CORRECT ANSWER-being convicted of a misdemeanor
The option to convert term life insurance to a permanent form of coverage can normally be executed: - CORRECT ANSWER- without proof of insurability
Which type of life insurance rider allows a policyowner to increase the level of coverage to keep up with inflation? CORRECT ANSWER-cost of living rider
What is the minimum age requirement for a minor in Alabama to purchase a life insurance policy? -
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