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Insurance 14
| Question | Answer |
|---|---|
| What would happen if a life insurance applicant is given a conditional receipt from an insurance agent and then dies the next day? | Claim will be paid if application is approved |
| Which of the following describes a person who is NOT acceptable by an insurer at standard rates because of health history, occupation, or hobbies? | Substandard risk |
| A dread disease policy is considered to be a type of | limited health insurance policy |
| Which of the following would be a valid reason why a policy premium would be higher than the standard premium? | The insured does not meet established underwriting requirements |
| A Medicare Supplement basic benefit is | the first 3 pints of blood per year |
| A waiver of premium rider allows an insured to waive premium payments if the insured is | completely and permanently disabled |
| Which of these is NOT considered to be a risk factor in life insurance underwriting? | Number of children |
| A whole life policy option where extended term insurance is selected is called a(n) | nonforfeiture option |
| Which of the following pertains to the analysis of an applicant's personal information and determining whether insurance should be issued or declined? | Underwriting |
| An endorsement found in an insurance plan which modifies the provisions of the policy is called a(n) | rider |
| A whole life insurance policy accumulates cash value that becomes | the policy loan value which the insured may borrow against |
Created by:
johnnywaldron71