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Life Insurance Questions and Answers (Q&A)

L. Sevigny, Doctor
Answered: Jan 28, 2019
When someone wants to use their car or house as collateral, that means that they want to use this item as a means of repayment or to hold for repayment. Usually, the person has paid off most or a...Read More

2 Answers

489 views
John Adney
Answered: Oct 16, 2017

In disability insurance, the period of time between when the disability started and the commencement of benefits is the: D. GRACE PERIOD

2 Answers

393 views
John Smith
Answered: Jul 04, 2020
All of the above.

There are many rules related to business cards on full disclosure, clear communications, and proper identification of agent and insurer.

1 Answer

388 views
G. Roland, Professor
Answered: Sep 10, 2018
A noncontributory group policy means that all of the employees would need to participate. All of the recipients of this group policy can still get benefits even if they have not given any...Read More

4 Answers

386 views
Chris Kenway, Content Writer
Answered: Aug 23, 2018
The universal life insurance policy offers different interest rates for different policies. The two types of interest rates that are commonly used are the guaranteed and current. The fixed and...Read More

3 Answers

351 views
John Smith
Answered: Jul 04, 2020
Premium cost for insurance above $50,000 is taxable as income to the employee.

Any premiums paid by an employer for an employees coverage of more than $50,000 are taxable to the employee....Read More

1 Answer

329 views
John Smith
Answered: Jul 04, 2020
Policy dividends issued by mutual companies are guaranteed and not taxable

Insurance policy dividends are not guaranteed and are not taxable.

2 Answers

310 views
H. Jones, Web Content Writer
Answered: Feb 11, 2019
Many people get life insurance policies for themselves in case they pass away. The reason is because when someone dies, there are expenses with the funeral and other aspects. The family must pay...Read More

2 Answers

298 views
B is the answer to this question. It can be daunting to find the right company and the right policy that you should get for your insurance but it helps to know as many details about insurance as...Read More

2 Answers

290 views
John Smith
Answered: Jul 04, 2020
Stock insurers are owned by the shareholders, and issue non-participating policies.

Stock insurers are owned by their shareholders/stockholders. Their policies are labeled non-participating...Read More

1 Answer

281 views
John Smith
Answered: Jul 04, 2020
Purchasing a new policy that will take the place of an existing policy

Any transaction in which a client purchases a new policy with the intention of cancelling an existing policy is...Read More

1 Answer

272 views
John Smith
Answered: Jul 04, 2020
Convert to a whole life policy for the same face amount without proof of insurability.

Conversion allows a term policy to be changed into a cash value policy (often whole life). While the...Read More

1 Answer

266 views
John Smith
Answered: Jul 04, 2020
Exclusive agents work for themselves.

Exclusive agents work for or represent one insurer at a time. Independent agents work for themselves and can be appointed by multiple insurers.

2 Answers

262 views
John Smith
Answered: Jul 04, 2020
Any action that could do harm to your clients well-being such as reckless driving.

Any situation that could result in harm, but no chance for financial gain, is a pure risk, not a...Read More

1 Answer

262 views

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