LOUISIANA LIFE INSURANCE EXAM

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LOUISIANA LIFE INSURANCE EXAM

Actual Qs and Ans - Expert-Verified Explanation -Guaranteed passing score -15 Questions and Answers

-Format: Multiple-choice / Flashcard

Question 1: How long does coverage continue on a limited - pay whole life policy

Answer:

Death or age 100

Question 2: True Statements about Whole Life Insurance

Answer:

The Face Amount of the policy stays the same as long as the policy remains in force The shorter premium period is, the faster the cash value will grow Whole life insurance is designed to mature at 100 Question 3: The Cash value in a single premium whole life policy will be available

Answer:

Immediately

Question 4: The cash value accumulation in a life insurance policy

Answer:

Can be used for loans or later as retirement income Question 5: Along with straight life insurance, premiums for survivorship life are usually

Answer:

Lower

Question 6: True Statements about universal life insurance

Answer:

It can be used to provide coverage over the entire lifetime of the insured A mortality charge is subtracted from each cash value accumulations each month Policy loans affect the amount of inters the is applied to cash valued accumulations Question 7: An insured would include the proceeds from his life insurance policy when doing estate planning because

Answer:

Of possible tax implications & liquidity of the proceeds

Question 8: The annual renewable term policy

Answer:

Renews each year with an increased premium Question 9: If a person owns an adjustable life policy & wants to increase the death benefits

Answer:

The death benefits can be increased by providing evidence of insurability

Question 10: Decreasing term insurance is most often used for

Answer:

Credit or Mortgage insurance Question 11: A 35 year old insureds five year level term policy will probably renew to a

Answer:

• Year level term with age 40 Limit

Question 12: True statement about decreasing term policy

Answer:

The face amount of the contract steadily declines throughout the duration of the contract It has a Lower premium outlay level term The contact pays only in the event of death during the term

Question 13: A modified endowment contract is created when the

Answer:

Cash value in the policy exceeds the cash value of a seven- Pay whole life system Question 14: When does cash value normally start accruing in whole life polices.

Answer:

• Years

Question 15: When the benefits paid from a joint life policy

Answer:

When the insurer dies