Fundamentals of Life Insurance FINAL EXAM (CT 6000112054)

The _________ rider allows the policy to continue without further premium payments if the insured becomes disabled and cannot work.

The enhanced life policy is a participating whole life policy that uses ____ to reduce the premiums of the policy.

When does group life insurance end for an employee?

Persistency is:

What is one of the most attractive feature of a variable universal life policy

To be legally capable of making a contract, a person may not be __________.

_______ is an unincorporated business owned by a single person; typically the owner also manages the business.

Participating policies allow their policy owners the ability to ____ in the increased profits of an insurer.

Individuals who market life insurance are called:

Females have a __________ mortality rates than males.

Which of the following is not a source of information for underwriters?

__________ reflect the extra mortality expected for individuals with the same ratings.

What are the two types of reinsurance?

No person can act as an agent or broker, and in some cases, fee-paid counselors, without first obtaining __________.

What is a broker?

What is a misrepresentation?

The application is the ______________.

__________ option permits the death benefit to be distributed in more than one payment of a fixed amount that is either originally specified by the policy owner or selected by the beneficiary.

Which rider benefits rider provides for the payment of all or a portion of the death benefit of the policy prior to the death of the insured if the death of the insured is caused by some specific medical condition?

With a limited payment whole life policy, the policy remains in full force for the “whole of life” but premiums are paid for __________.

Under US law, the first __________ of employer-provided group term life insurance is non-taxable to the employee.

Which IRS provision allows an exchange of a policy for a new one insuring the same person without paying tax on investment gains earned under the original contract?

The human life value concept recognizes which of these as a type of loss?

In the suicide clause, what is the length of time from the application date that the insurer will not pay if the insured commits suicide?

The most common payout of death benefits is by __________.