Life insurance basics Study guides, Class notes & Summaries

What type of report provides information about an applicant's hobbies, habits, and financial status? - CORRECT ANSWER-Investigative consumer report What are the three factors that determine the premium for a particular life insurance policy? - CORRECT ANSWER-Mortality, interest, expense How does the premium mode affect the total premium paid for insurance for the year? - CORRECT ANSWER-Higher frequency of payments will result in higher overall premium Can insurers advertise the existence ...

Test Bank for Business Law and the Legal Environment Version 3.0 by Don Mayer, Daniel Warner, George Siedel, and Jethro K. Lieberman. Full Chapters test bank are included - Chapter 1 to 53 Chapter 1: Introduction to Law and Legal Systems 1.1 What Is Law? 1.2 Schools of Legal Thought 1.3 Basic Concepts and Categories of U.S. Law 1.4 Who Makes the Law 1.5 Legal and Political Systems of the World 1.6 A Sample Case 1.7 Summary and Exercises Chapter 2: Introduction to Corporate Social Resp...

Life Insurance ️ protects against financial loss associated with an insured's death, and pays a death benefit to beneficiaries upon the death of the insured. The policyowner of the insurance contract pays a premium to the insurer. The insurer issues a policy covering the insured. In the event of the insured's death, the insurer pays the death benefit to the beneficiary. -May be purchased by individuals or businesses. Survivor Protection ️ The death of the primary wage-earner will usu...

CA life and Health: Life Insurance Basics Questions with 100% Correct Answers | Latest Version 2024/2025 | Expert Verified | Ace the Test

CH#2: Life Insurance Basics Q&AIt is intended to provide coverage on a date earlier than the date of the issuance of the policy - correct answer What is the purpose of a conditional receipt A) It is intended to provide coverage on a date earlier than the date of the issuance of the policy B) It guarantees the applicant that a policy will be issued in the amount applied for in the application C) It serves as proof that the agent has determined the applicant to be fully insurable for coverage...

CA life and Health: Life Insurance Basics (2022/2023) with Verified Solutions A family's need for income is greatest during the Family Dependency Period Time after the insured has died, leaving a surviving spouse with dependent children to support. Which of the following would be least likely to be considered a legitimate need that would be paid by insurance proceeds? Vacation travel expenses THere are many legitimate need-based expenses that can be paid by life insurance proceeds, from groc...

CA life and Health: Life Insurance Basics with Verified Solutions, Latest Update A family's need for income is greatest during the -Ans Family Dependency Period Time after the insured has died, leaving a surviving spouse with dependent children to support. Which of the following would be least likely to be considered a legitimate need that would be paid by insurance proceeds? -Ans Vacation travel expenses THere are many legitimate need-based expenses that can be paid by life insurance proce...

CA life and Health: Life Insurance Basics Exam with Complete Solutions A family's need for income is greatest during the Family Dependency Period Time after the insured has died, leaving a surviving spouse with dependent children to support. Which of the following would be least likely to be considered a legitimate need that would be paid by insurance proceeds? Vacation travel expenses THere are many legitimate need-based expenses that can be paid by life insurance proceeds, from gro...

CH#2 Life Insurance Basics Q&AIt is intended to provide coverage on a date earlier than the date of the issuance of the policy - correct answer What is the purpose of a conditional receipt A) It is intended to provide coverage on a date earlier than the date of the issuance of the policy B) It guarantees the applicant that a policy will be issued in the amount applied for in the application C) It serves as proof that the agent has determined the applicant to be fully insurable for coverage ...

CA life and Health: Life Insurance Basics (2022/2023) with Verified Solutions A family's need for income is greatest during the Family Dependency Period Time after the insured has died, leaving a surviving spouse with dependent children to support. Which of the following would be least likely to be considered a legitimate need that would be paid by insurance proceeds? Vacation travel expenses THere are many legitimate need-based expenses that can be paid by life insurance proceeds, from ...