Quiz for california life insurance.
Any reduction in the quantity, quality, or value of something.
The potential or actual cause of a loss.
A possibility of a loss and uncertainty about wether it will occur.
A condition that might increase the severity of a loss.
Having a financial interest in the thing at risk.
A possibility for loss or gain.
Transfering the risk of loss to another party.
Human carelessness or irresponsibility.
Perils
Hazards
Pure risks
Exposure units.
A domestic insurer
An alien insurer
A foreign insurer
An unauthorized insurer.
Measurable
Predictable
Catastrophic
Uncertain
An assesment insurer.
A stock insurer.
A reciprocal insurer.
A mutual insurer.
Implied authority
Apparent authority
Fiduciary responsibilities
Express authority
Concealment
Adhesion
Consideration
Misrepresantation
Sales presentation
Conditional receipt
Buyers guide
Disclosure authorization form
Inflationary trends in the economy
Future income needs of survivors
An individual's future stream of income
Probate and estate taxes
Between the date of an early retirement and the date an individual first becomes elibible for Social Security retirement benefits
After survivor benefits for the youngest child end and before the surviving spouse becomes eligible for Social Security retirement benefits.
That a disabled worker has to wait before Social Security disability benefits begin.
During which income earned after age 65 is no longer subject to Social Security taxes.
The availability of credit life insurance on an impartial basis
Protection to debtors against credit collection agencies
The requirement that an applicant for insurance be informed that a consumer report may be requested regarding his application
Information concerning any previous applications for insurance by an applicant
Insurable interest must exist at the time of loss
Insurable interest must exist at the time of application.
Insurable interest must exist throughout the duration of the policy.
Insurable interest must exist at the time of the insured's death.
Any life insurance application submitted to the underwriting department must include the signatures of the policyowner, proposed insured, and agent
Any changes made to an application before its submission to the insurer must be initialed by the applicant
The initial premium must be submitted to the insurer with the completed application
Incomplete applications may be delay the underwriting process
A statement guaranteed to be absolutely true
A statement that is true to the best knowledge of the applicant
A statement that is material to the risk involved
A statement pertaining to the substandard nature of the risk to be insured
Medical examination
Application
Agent's report
Statement of good health
Level term
Decreasing term
Increasing term
Convertible term
It offers a combination of investment options and a guaranteed death benefit.
The premiums paid are fixed at a level amount.
This policy combines whole life and decreasing term coverage.
Lower premiums are charged in the early years of the policy.
Term insurance
Whole life insurance
Universal life insurance
Endowments
The debtor
The employer
The lender
The beneficiary
The insured can demand renewal at the end of the original term
Premiums for a renewal policy cannot be increased.
Evidence of insurability cannot be required at renewal
Limits may be placed on the number of permitted renewals.
It becomes a fully paid-up policy prior to maturity.
Death benefits are payable for a limited period of time.
Cash value withdrawals are permitted only for a limited number of years.
Proceeds may be paid only to the policyowner or a primary beneficary, and not to any other individual or party.
Whatever age is elected by the policyowner
At age 75
At age 90
At age 100
Adjustable life insurance
Universal life insurance
Variable life insurance
Modified life insurance
1
2
3
6
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