INS 3303 Life Insurance Exam 2 Ch 9 11 19 22 (INS3303)

INS 3303 Life Insurance Exam 2 Ch 9 11-19 22 A policy that originally is not a modified endowment contract will be subject to re-testing if there is a "material change" in the contract. Which of the following would likely be a material change? Answer Selected Answer: Increases in death benefits because of premiums paid for the policy to support the first seven contract years of benefits. Correct Answer: An exchange of one policy for another policy in a 1035 exchange. • Questi...

Exam (elaborations) INS 3303 Life Insurance Exam 2 Ch 9 11-19 22 (INS3303) A policy that originally is not a modified endowment contract will be subject to re-testing if there is a "material change" in the contract. Which of the following would likely be a material change? Answer Selected Answer: Increases in death benefits because of premiums paid for the policy to support the first seven contract years of benefits. Correct Answer: An exchange of one policy for another policy in a...