Periodic payment immediate results
Single payment deferred annuity
Periodic payment deferred annuity
Single payment immediate annuity
Fixed amount installments
Life income option
Fixed period installments
Lump sum settlement
Return the premium to Donna's estate ,since it has not obligation to pay the death claim
Keep the premium and reject the risk on the basis that the applicant died before the policy could be issued
Issue the policy anyway and pay the face value to Donna's beneficiary
Negotiate a reduced settlement with Donna's beneficiary due to the unusual circumstances involved
It limits financial assistance to persons age 65 or over who are in need of medical services they cannot afford
Its purpose is to help eligible needy persons with medical assistance
Medicaid benefits may be used to pay the deductible and coinsurance amounts to medicare
It provides federal matching funds to states for medical public assistance plans
$700
$7500
$1800
$2000
An individual always has an insurable interest in his or her own life and health
A corporation has an insurable interest in the life and health of its officers and directors
Insurance procured by a person who does not have an insurable interest in the person insured may be void
Insurable interest must exist at the time a covered loss occurs
Graded premium whole life
Increasing term
Modified whole term
Decreasing term
4 years
5 years
3 years
The insurance commissioner is appointed, not elected
The insurer must pay the face amount and accept the original premium as payment in full
The insurer must pay the face amount but it may deduct the premium surcharge from the settlement amount
There is no coverage because the policy does not cover losses resulting form occupational hazards
There is no coverage because the original application was not accepted,and the premium will be returned.
10 days of receiving the distribution
20 days of receiving the distribution
30 days of receiving the distribution
60 days of receiving the distribution
Entire contact clause
Contestable clause
Insuring clause
Consideration clause
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Here's an interesting quiz for you.