Question 1

All of the following are nonforfeiture options found in cash value life insurance policies EXCEPT

Accepted Answer

A) cash value. 
B) reduction of premiums. 
C) reduced paid-up insurance. 
D) extended term insurance. 
A) cash value. 
B) reduction of premiums. 
C) reduced paid-up insurance. 
D) extended term insurance.

Question 2

Which of the following statements about the ownership of a life insurance policy is (are)true?
I.Under the ownership clause,the policyholder and beneficiary equally share all contractual rights in the policy while the insured is living.
II.The policyholder can designate a new owner by filing an appropriate form with the insurance company.

Accepted Answer

A) I only 
B) II only 
C) both I and II 
D) neither I nor II 
A) I only 
B) II only 
C) both I and II 
D) neither I nor II

Question 3

Which of the following statements about nonforfeiture options found in life insurance policies is true?

Accepted Answer

A) Under the reduced paid-up option,the paid-up policy is term insurance. 
B) Under the extended term option,the amount of term insurance is less than the face value of the surrendered cash value policy. 
C) Under the reduced paid-up option,no additional premiums must be paid. 
D) Unless the policyowner has selected another nonforfeiture option,the cash value option goes into effect automatically. 
A) Under the reduced paid-up option,the paid-up policy is term insurance. 
B) Under the extended term option,the amount of term insurance is less than the face value of the surrendered cash value policy. 
C) Under the reduced paid-up option,no additional premiums must be paid. 
D) Unless the policyowner has selected another nonforfeiture option,the cash value option goes into effect automatically.

All of the following are nonforfeiture options found in cash value life insurance policies EXCEPT

Which of the following statements about nonforfeiture options found in life insurance policies is true?

Risk and Its Treatment

Insurance and Risk

Introduction to Risk Management

Enterprise Risk Management

Types of Insurers and Marketing Systems

Insurance Company Operations

Financial Operations of Insurers

Government Regulation of Insurance

Fundamental Legal Principles

Analysis of Insurance Contracts

Life Insurance

Buying Life Insurance

Annuities and Individual Retirement Accounts

Health-Care Reform;individual Health Insurance Coverages

Employee Benefits: Group Life and Health Insurance

Employee Benefits: Retirement Plans

Social Insurance

The Liability Risk

Auto Insurance

Auto Insurance Continued

Homeowners Insurance,section I

Homeowners Insurance,section II

Other Property and Liability Insurance Coverages

Commercial Property Insurance

Commercial Liability Insurance

Crime Insurance and Surety Bonds

Filters

Exam 12: Life Insurance and Contractual Provisions

All of the following are nonforfeiture options found in cash value life insurance policies EXCEPT

Which of the following statements about nonforfeiture options found in life insurance policies is true?

Risk and Its Treatment

Insurance and Risk

Introduction to Risk Management

Enterprise Risk Management

Types of Insurers and Marketing Systems

Insurance Company Operations

Financial Operations of Insurers

Government Regulation of Insurance

Fundamental Legal Principles

Analysis of Insurance Contracts

Life Insurance

Buying Life Insurance

Annuities and Individual Retirement Accounts

Health-Care Reform;individual Health Insurance Coverages

Employee Benefits: Group Life and Health Insurance

Employee Benefits: Retirement Plans

Social Insurance

The Liability Risk

Auto Insurance

Auto Insurance Continued

Homeowners Insurance,section I

Homeowners Insurance,section II

Other Property and Liability Insurance Coverages

Commercial Property Insurance

Commercial Liability Insurance

Crime Insurance and Surety Bonds

Filters