Texas life insurance exam Study guides, Class notes & Summaries

Who is considered a field underwriter? - correct answer An agent When must insurable interest exist in life insurance? - correct answer Application or issue date If no receipt is issued at the time of application, a statement of good health is usually required at the time of? - correct answer Policy delivery The Medical Information Bureau is?(MIB) - correct answer a source of medical information to alert insurers to adverse medical history A substandard risk compared to a sta...

Texas State Exam Simulator - Life and Health Insurance (200 Questions Practice Exam)Correctly Answered And Graded A+

P completes an application for a $10,000 life policy, but does not give the producer the initial premium. P's coverage becomes effective when - correct answer P receives the policy and pays the premium 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 carrer? - correct answer 20-Pay Life accumulates cash value faster than Straight L...

Who is considered a field underwriter? - correct answer -An agent When must insurable interest exist in life insurance? - correct answer -Application or issue date If no receipt is issued at the time of application, a statement of good health is usually required at the time of? - correct answer -Policy delivery The Medical Information Bureau is?(MIB) - correct answer -a source of medical information to alert insurers to adverse medical history A substandard risk compared to a standar...

Xcel solutions final exam Insuring Which health policy clause specifies the amount of benefits to be paid - Answer ️️ - Insuring The investment gains from a universal life policy usually go to - Answer ️️ -The cash value L takes out a life insurance policy and dies 10 years later. During the claim process, the insurer finds out that the applicant misstated their age. What will the insurer do? - Answer ️️ -Adjust the death benefit to a reduced amount An employee is covered unde...

Accelerated Benefits - correct answer Riders attached to life insurance policies that allow death benefits to be used to cover nursing or convalescent home expenses. Accidental Death Benefits - correct answer A policy rider that states that the cause of death will be analyzed to determine if it complies with the policy description of accidental death. Accidental Death Insurance - correct answer An insurance policy that provides payment if the insured's death is the result of an accident. ...

P completes an application for a $10,000 life policy, but does not give the producer the initial premium. P's coverage becomes effective when P receives the policy and pays the premium 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 carrer? 20-Pay Life accumulates cash value faster than Straight Life How does an indexed annuity di...

Convertible Term Life Insurance - correct answer -This optional form of term life insurance lets the policyowner convert the policy to a whole life policy without having to prove insurability. Ordinary Life Insurance - correct answer -This class of individual life insurance has many flexible options and features policies with face amounts greater than $25,000. Currently Insured Status (Social Security) - correct answer -This Social Security insured status makes workers eligible for death b...

Who is considered a field underwriter? An agent When must insurable interest exist in life insurance? Application or issue date If no receipt is issued at the time of application, a statement of good health is usually required at the time of? Policy delivery The Medical Information Bureau is?(MIB) a source of medical information to alert insurers to adverse medical history A substandard risk compared to a standard risk would pay? a higher premium Which document describes specific informat...

Who is considered a field underwriter? - Answer- An agent When must insurable interest exist in life insurance? - Answer- Application or issue date If no receipt is issued at the time of application, a statement of good health is usually required at the time of? - Answer- Policy delivery The Medical Information Bureau is?(MIB) - Answer- a source of medical information to alert insurers to adverse medical history A substandard risk compared to a standard risk would pay? - Answer- a hi...