It 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
... [Show More] 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 by the insurance company
D) It is given by the agent only to applicants who fully prepay all scheduled premiums in advance of policy issue
Cash values can be borrowed at any time - correct answer What does "liquidity" refer to in a life insurance policy
A) The policyowner receives dividend checks each year
B) The insured is receiving payments each month is retirement
C) Cash values can be borrowed at any time
D) The death benefit replaces the assets that would have accumulated if the insured not died
Insurers are barred from requesting HIV testing - correct answer Which of the following statements regarding HIV testing for life insurance purposes is NOT true
A) The testing practices must meet the criteria of the U.S. Department of Health and Human Services
B) HIV testing is regulated at the state level
C) Insurers are barred from requesting HIV testing
D) Positive test results will be forwarded to the state's Department of Health if a physician is not selected by the applicant
An applicant who is a smoker - correct answer Which of the following applicants could the insurer charge a higher rate of premium and not violate regulations regarding unfair discrimination
A) An applicant who is a smoker
B) An applicant who was born in another country
C) An applicant who is legally blind
D) An applicant who has been a victim of domestic abuse
Whole life - correct answer Which of the following types of insurance policies would perform the function of cash accumulation
A) Credit life
B) Increasing term
C) Whole life
D) Term life
Buy-sell agreements are normally funded with a life insurance policy - correct answer Which of the following statements concerning buy-sell agreements is true
A) Benefits received are considered income taxable
B) Buy-sell agreements pay in the event of a medical emergency
C) Buy-sell agreements are normally funded with a life insurance policy
D) Premiums paid are deductible as a business expense
With the policy - correct answer If a policy includes a free-look period of at least 10 days, the Buyer's Guide must be delivered to the applicant
A) With the policy
B) Upon issuance of the policy
C) Prior to accepting an initial premium [Show Less]