Life insurance primerica Study guides, Class notes & Summaries

401 k plan - ANSWER A qualified retirement plan in which the employee can set aside a portion of their income with pre-tax dollars. Absolute Assignment v. Collateral Assignment - ANSWER Absolute: A permanent and irrevocable transfer of rights and/or benefits by the policyowner. Collateral: A temporary and/or revocable transfer of benefits by the policyowner. Accelerated Death Benefit - ANSWER Policy provision that allows full or partial payment of the policy's de...

Which will be included in a policy summary? - Answer Premium amounts and surrender values Why should the producer personally deliver the policy when the first premium has already been paid? - Answer To help the insured understand all aspects of the contract An insurance contract requires that both the insured and the insurer meet certain conditions in order for the contract to be enforceable. What contract characteristic does this describe? - Answer Conditional If a policy includes a free-...

Life Insurance Primerica Exam 2023 Questions and Answers

The receipt given to a life insurance applicant when the application is completed and the initial premium is received is called a(n) - Answer- Conditional receipt. Statements in the application for insurance that are believed to be true to the best of the applicant's knowledge are called - Answer- Representations. All of the following apply to the waiver of premium rider EXCEPT - Answer- There is no charge for this provision. An annuity is considered fixed when it does all of the follo...

Primerica Life Insurance Practice Questions (W/Out Multiple Choice) With Complete Solutions 100% 2024Primerica Life Insurance Practice Questions (W/Out Multiple Choice) With Complete Solutions 100% 2024

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Life Insurance Primerica With Complete Solutions 100% 2024Life Insurance Primerica With Complete Solutions 100% 2024

Life Insurance Primerica Solved Exam |Question and Answer| 100% Correct 401 k plan *Ans* A qualified retirement plan in which the employee can set aside a portion of their income with pre-tax dollars. Absolute Assignment v. Collateral Assignment *Ans* Absolute: A permanent and irrevocable transfer of rights and/or benefits by the policyowner. Collateral: A temporary and/or revocable transfer of benefits by the policyowner. Accelerated Death Benefit *Ans* Policy provision that all...

Primerica Life Insurance Practice Test Questions and Answers 2023 (Verified Answers by Expert)

Life insurance practice exam primerica.