The group has not been established for long enough.
The purpose of the group was to purchase life insurance
Their profession poses too high of a risk for the insurer.
The proposed licensee is not trustworthy
The proposed licensee is not competent.
The proposed licensee is from another state
Comparisons with similar policies
Primary and secondary beneficiary designations
Premium amounts and surrender values
Insurance and cash account
Separate account and policy loans
Insurance and death benefit
It is not tied to an index like the S&P 500
It has a guaranteed minimum interest rate
It has modest investment potential
The surrender value should be equal to 100% of the premium paid, minus any prior withdrawals and surrender charges.
A deferred annuity cannot be surrendered prior to annuitization. The owner must wait until the annuitization period begins to receive any payments.
The surrender value will not be more than 80% of the cash value in the annuity at the time of surrender.
The period of time spanning from the accumulation period to the annuitization period
The period of time during which accumulated money is converted into income payments
The period of time spanning from the effective date of the contract to the date of its termination
Maintain a profit margin between the interest credited on in-force policies and the interest earned on their own investment portfolio
Estimate market conditions for the life of the policy
Declare the annual rate by the company's board of directors
Guaranteed minimum payout
Early distributions are always subject to penalty.
The 10% penalty is waived for withdrawals made after age 59 1/2.
A premature distribution may be subject to a 10% penalty, and the amount withdrawn is taxed as ordinary income in the year withdrawn.
The rider is decreasing term insurance.
Coverage is allowed for an unlimited time.
The rider is level term insurance.
Military service or war
No, higher risks pay higher premium
Yes, but not unfairly
No, discrimination is an unfair practice
Have been a licensed life producer for at least one year
Submit to a drug test
Private insurers may be authorized to transact insurance by state insurance departments.
Insurance provided by the government is called "federal insurance."
Benefits are paid to the borrower's beneficiary.
Benefits are paid directly to the creditor.
The amount of insurance permissible is limited per borrower.
The agent puts up a sign with the logo of the insurance company without express permission.
The agent accepts a premium payment after the end of the grace period
The agent accepts a premium payment during the grace period.
Annually on or before March 1st.
Biannually on or before April 1st.
Every 2 years by the renewal date.
Anyone who can pass the written examination.
A person, firm or corporation.
Persons age 17 or older.
Pay the death benefit
Sue for the right to not pay the death benefit
Pay a decreased death benefit
Creditor may insure the debtor for an unlimited amount of coverage.
Allowable amount of coverage is determined by the State Insurance Commissioner.
Creditor can only insure the debtor for the amount owed.
The Consideration Clause
The Entire Contract Provision