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Mary Tran

Mary T.

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Aparna Shakti verified

Numerade educator

The IRS Corridor is important in regard to which of the following types of insurance? Whole Life Universal Life Term Life Variable Life

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Numerade educator

Nonforfeiture refers to which of the following? The grace period Policy loans The Cash Value Living Needs

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Numerade educator

All of the following are final expenses, EXCEPT: Funeral Expenses Estate Taxes Mortgage on home Dependents education

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Numerade educator

Since Michael's policy pays dividends he has which of the following types of policies? Participating Non-Participating Variable Adjustable

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Numerade educator

Floyd's agent issues him a conditional receipts with his application for life insurance. This means Floyd is covered on: The effective date specified on the application The date the policy is delivered to the insured The date of the application or the date of the medical exam, whichever is later The date the insurance company receives the first premium payment

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Numerade educator

Jessica and Albert are referred to as a sandwiched family. This means: They are providing care for children and seniors at the same time Both parents are working full time outside the home One parent stays home with the children and one parent works full time They are divorced with children, and at least one of them has married another single parent with children

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Jerry's life insurance policy is about to lapse due to non-payment. Which Nonforfeiture option would be used if Jerry had not pre-selected another option? Reduced Paid Up Cash Surrender Value Interest Only Extended Term

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Numerade educator

Mary's husband Clyde passed away and his life insurance benefit was payable to her. She could select from all of the following settlement options under his policy, EXCEPT: Interest Only Fixed-period Reduced Paid Up Joint and Survivor

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Numerade educator

A policy purchased by Joanne on her husband would still pay benefits to her, even after they are divorced as long as she had an insurable interest in the insured: At the time the coverage is originally purchased At the time of the insureds death When Dividends are paid When a loan is taken from the cash value

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Mary and John are concerned about paying off the balance of the payments on their new motorhome if one of them dies. The type of insurance designed to pay the outstanding balance of a debt is called _______________ Endowment Increasing Term Credit Home Service

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