Adjustable whole life Universal life Decreasing term life Limited whole life, Which type of life insurance policy pays the face amount at the end of the specified period if the insured is still alive? In the case of an insurance contract, the contracting parties are the claimant and the insurer. Which of the following statements is true? Risk Hazard Indemnity Peril, Insurance companies determine risk exposure by which of the following? Which of these factors is NOT taken into account when determining an applicants life insurance needs? The terms of the policy typically outline these conditions, which may include paying premiums on time and maintaining the insured property in good condition. B) Only the insured can change the provisions Intentional withholding of material facts that would affect an insurance policy's validity is called a(n). The two major actions required for a policyowner to comply with the Reinstatement Clause are, Provide evidence of insurability, pay past due premiums, The term which describes the fact that both parties of a contract may NOT receive the same value is referred to as. When the principal gives the agent authority in writing, its referred to as, The terms must be accepted or rejected in full. B) implied authority His insurance agent told him the policy would be paid up if he reached age 100. A. Which of the following best describe the term definition. The death benefit paid will be what the premium would have purchased at the correct age, Converting a group plan to permanent life insurance requires, The conversion being applied for within 31 days of termination. Loan against the cash value Policy withdrawal Policy dividend Death benefit, A business will typically use which type of life insurance to cover their employees? apparent A) definitions Which of the following policies does NOT build cash value? C) insurer Term Straight Life Endowment Variable Life, A life insurance policy that has premiums fully paid up within a stated time period is called stated payment insurance limited universal insurance stated modified insurance limited payment insurance, Reggie purchased a life insurance policy with a face amount of $500,000. A) Insurer's promise to pay benefits Which of the following is the best descriptive word? D) Principal Capacity, A unilateral contract is one in which The terms of the policy typically outline these conditions, which may include paying premiums on time and maintaining the insured property in good condition. Which of these statements is true? The policy automatically converts to whole life after the 10-year period The face amount will remain constant and the premium will increase over the 10-year period The premium will remain constant and the face amount will increase over the 10-year period The face amount and premium will remain constant over the 10-year period, will no longer provide insurance protection, Shawn, Mike, and Dave are brothers who have a $100,000 "first to die" joint life policy covering all three of their lives. How could a company manager use a process cost summary to determine if the program to reduce water usage is successful? It is the means by which one or more parties bind themselves to certain promises. B) concealment D) Personal contract, The importance of a representation is demonstrated in what rule? The policies continue in force with no change. Which Of The Following Best Describes A Conditional Insurance Contract A) A contract that requires certain conditions or acts by the insured individual B) A contract that has the potential for the unequal exchange of consideration for both parties C) A contract where one party "adheres" to the terms of the contract B) NAIC B) A contract that has the potential for the unequal exchange of consideration for both parties Which Of The Following Statements About Personal Selling Is Correct? apparent authority Connect with others, with spontaneous photos and videos, and random live-streaming. A contract that requires certain conditions or acts by the insured individual This means that the insurer's promise to pay benefits depends on the occurrence of an event covered by the contract. Which of the following best describes how you analyze a fiction text? A person who is a nonsmoker, of average weight, and in excellent health would most likely be in which risk classification? A) offer and acceptance C) Legal purpose All of the following statements about Carl's coverage are correct. A) estoppel The agent's obligation to provide the proper amount of coverage The insurer's obligation to return all premiums upon an approved death claim The insurer's obligation to pay a death benefit upon an approved death claim The agent's obligation to pay a death benefit upon an approved death claim, Of the following dividend options, which of these is taxable? y=f(x)=10x5x+1535if0x3if3