LIFE AND HEALTH INSURANCE EXAM STUDY QUESTIONS WITH CORRECT ANSWERS (GUARANTEED PASS)| RATED A+

LIFE AND HEALTH INSURANCE EXAM STUDY QUESTIONS WITH CORRECT ANSWERS (GUARANTEED PASS)| RATED A+

If X wants to buy $50,000 worth of permanent protection on his/her spouse and $25,000 worth of
10-year Term coverage on X under the same policy, the applicant should purchase -
Answer>>>A Whole Life Policy with an Other Insured Rider
Which of these statements describe a modified endowment contract MEC - Answer>>>Exceeds
the maximum amount of premium that can be paid into a policy and still have it recognized as a
life insurance contract
S is close to retiring and would like to purchase a policy that will yield greater gains than bonds,
but will still protect the principal with a minimum level or risk. Which product would S be
advised to purchase? - Answer>>>Equity index insurance
What kind of life insurance product covers children under their parent's policy? -
Answer>>>Term rider
The universal policy is called in and bundle of life policy because the policy holder can see the
expense charges, the interest earned, and the - Answer>>>Cost of insurance
A potential client, age 40, would like to purchase a Whole Life policy that will accumulate cash
value at a faster rate in the early years of the policy. Which of these statements made by the
producer would be correct? - Answer>>>20-Pay Life accumulates cash value faster than Straight
Life
What kind of life insurance starts out as temporary coverage but can be later modified to
permanent coverage without evidence of insurability? - Answer>>>Convertible Term
A variable insurance policy - Answer>>>does not guarantee a return on its investment accounts
What type of life policy covers two people and pays upon the death of the last insured ? -
Answer>>>survivorship
T would like to be assured $10,000 is available in 10 years to replace a roof on his house. What
kind of $10,000 policy should T purchase? - Answer>>>Ten-Year Endowment
Which of these types of life insurance allows the policyowner to have level premiums and to also
choose from a selection of investment options? - Answer>>>Variable Life
N is covered by a Term Life policy and does not make the required premium payment which was
due August 1. N dies September 15. What action will the insurer take? - Answer>>>Claim will
be denied