Trivia Questions On Kiwi And Universal Life Insurance! Quiz
(279).jpg "Trivia Questions On Kiwi And Universal Life Insurance! Quiz - Quiz")
Insurance companies were created for the primary purpose of ensuring that the insured party does not suffer loss related to a particular risk occurring. At kiwi insurance limited, one gets the option of missing a premium payment when they have financial difficulties. Go through these questions on kiwi and universal life insurance and see how well you understand the policy.
- 1.
Using the KIWI and looking at the Sun Universal Life product, select the correct calculation for death benefit option A.
- A.
The greater of * face amount + a specified rate on the policy anniversary (up to a maximum of 3x the initial face amount) + all premiums paid - loan, and * corridor death benefit - loan
- B.
The greater of * face amount + all premiums paid - loan, and * corridor death benefit - loan
- C.
The greater of * face amount - loan, or * corridor death benefit - loan
- D.
The greater of * face amount + a specified rate on the policy anniversary (up to a maximum of 3x the initial face amount) - loan, and * corridor death benefit - loan
- E.
The greater of * face amount + account value - loan, and * corridor death benefit - loan
Correct Answer
C. The greater of * face amount - loan, or * corridor death benefit - loan -
- 2.
Using the KIWI and looking at the Sun Universal Life product, select the correct calculation for death benefit option B.
- A.
The greater of * face amount + a specified rate on the policy anniversary (up to a maximum of 3x the initial face amount) + all premiums paid - loan, and * corridor death benefit - loan
- B.
The greater of * face amount + all premiums paid - loan, and * corridor death benefit - loan
- C.
The greater of * face amount - loan, and * corridor death benefit - loan
- D.
The greater of * face amount + a specified rate on the policy anniversary (up to a maximum of 3x the initial face amount) - loan, and * corridor death benefit - loan
- E.
The greater of * face amount + account value - loan, and * corridor death benefit - loan
Correct Answer
E. The greater of * face amount + account value - loan, and * corridor death benefit - loan -
- 3.
Using the KIWI and looking at the Sun Universal Life product, select the correct calculation for death benefit option 1.
- A.
The greater of * face amount + a specified rate on the policy anniversary (up to a maximum of 3x the initial face amount) + all premiums paid - loan, and * corridor death benefit - loan
- B.
The greater of * face amount + all premiums paid - loan, and * corridor death benefit - loan
- C.
The greater of * face amount - loan, and * corridor death benefit - loan
- D.
The greater of * face amount + a specified rate on the policy anniversary (up to a maximum of 3x the initial face amount) - loan, and * corridor death benefit - loan
- E.
The greater of * face amount + account value - loan, and * corridor death benefit - loan
Correct Answer
B. The greater of * face amount + all premiums paid - loan, and * corridor death benefit - loan -
- 4.
Using the KIWI and looking at the Sun Universal Life product, select the correct calculation for death benefit option 1.
- A.
The greater of * face amount + a specified rate on the policy anniversary (up to a maximum of 3x the initial face amount) + all premiums paid - loan, and * corridor death benefit - loan
- B.
The greater of * face amount + all premiums paid - loan, and * corridor death benefit - loan
- C.
The greater of * face amount - loan, and * corridor death benefit - loan
- D.
The greater of * face amount + a specified rate on the policy anniversary (up to a maximum of 3x the initial face amount) - loan, and * corridor death benefit - loan
- E.
The greater of * face amount + account value - loan, and * corridor death benefit - loan
Correct Answer
D. The greater of * face amount + a specified rate on the policy anniversary (up to a maximum of 3x the initial face amount) - loan, and * corridor death benefit - loan -
- 5.
Using the KIWI and looking at the Sun Universal Life product, select the correct calculation for death benefit option 3.
- A.
The greater of * face amount + a specified rate on the policy anniversary (up to a maximum of 3x the initial face amount) + all premiums paid - loan, and * corridor death benefit - loan
- B.
The greater of * face amount + all premiums paid - loan, and * corridor death benefit - loan
- C.
The greater of * face amount - loan, and * corridor death benefit - loan
- D.
The greater of * face amount + a specified rate on the policy anniversary (up to a maximum of 3x the initial face amount) - loan, and * corridor death benefit - loan
- E.
The greater of * face amount + account value - loan, and * corridor death benefit - loan
Correct Answer
A. The greater of * face amount + a specified rate on the policy anniversary (up to a maximum of 3x the initial face amount) + all premiums paid - loan, and * corridor death benefit - loan -
Quiz Review Timeline +
Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.
-
Current Version
-
Mar 17, 2022Quiz Edited by
ProProfs Editorial Team -
Sep 08, 2009Quiz Created by
Colleen724
Back to top