These are all accurate statement regarding universal life insurance except Show Policy loans are not permitted.. At what point are death proceeds pain in a joint life insurance policy? A joint life policy cover two or more lives and provides for the payment of the proceeds at the death of the first among those insured, at which time the policy terminates. How does a continuous premium whole life policy differ from a limited pay whole life policy? The time period With premium will b paid What type of premium are associated with individual mortgage protection life insurance policies? Level premium... Decreasing term policies are normally used for mortgage protection life insurance to which the premium remains level, but the coverage decrease over time Which of these statement accurately portrays an adjustable life insurance policy? Policy can alternate between form of term and whole life What is a juvenile life insurance policy? A life policy that cover the life of a minor Which statement concerning an adjustable life insurance policy is false? Evidence of insurability is required when there is a change in premium... An advantage of owning a flexible premium life insurance policy would be
The policy owner can make policy changes without difficulty.. How are level term policies able to provide level premium Level term policies are able to offer level premium because the premiums are averaged over the term of the policy Which of these policies is considered a whole life policy What type of life insurance policy cover two or more person and pays the face amount upon the death of the first insured An insurance policy that can also be classified as a securities product is called Rick own a variable universal life policy and choose a variable death benefit option. What will typically happen to the death benefit as a result of this selection? Fluctuate with change in the cash account.. Which of the following is generally a form of group credit life insurance Decreasing term insurance A nonparticipating whole life insurance policy was surrender for its 20,000 cash value. The total premium paid had totaled 16,000. What were the federal income tax consequences to the policy owner on receipt of the cash value. In this situation, the policy owner would receive 16,000 tax free and 4,000 as ordinary income What kind of life policy typically offers mortgage protection These are all accurate statements regarding universal life insurance except Policy loans are allowed in universal life insurance policies How long does premium payment cover in single premium whole life policy One premium payment cover the full life of the policy in a single premium whole life policy What kind of life insurance policy allow a policy owner the choice of investment along with flexible premium payment Variable universal life.. All of these statement concerning group credit life insurance are false The face amount is determined by the outstanding loan balance. Which is an accurate description of the premium in a graded premium life insurance policy? Annual
increase in premium for a stated number of year then level off for the remainder of the contract. Which statement concerning a decreasing term life policy is accurate Face amount decrease over the policy period. Which of these is not an advantage of term life insurance A cash benefit will be provide if the insured is alive at the end of the policy period. What is the guarantee cash value of a whole life insurance policy when the insured turn 65 years old Less than the policy amount. What type of life insurance policy cover two or more person and pay the face amount upon the death of the first insured Which statement regarding the cash value of a whole life insurance policy is Available to the policy owner when the policy has been surrender.
the following statement about universal life is not true Universal life insurance normally has a minimum guarantee cash value for duration of the policy. Which of the following is generally a form of group credit life insurance Group credit life insurance is typically a form of decreasing term insurance A material change in a modified endowment contract ( MEC) result in The seven pay test, adjusted for cash value, applies agin. A policy owner has just borrowed from a life insurance policy cash value. Which of these statement is true In the event of death, the loan amount is deducted from the policy proceeds. Which of these must be disclosed in a universal life policy The surrender charge of a universal life policy must be disclosed Which statement regarding an adjustable life insurance policy is not true Policy loans not permitted. What life insurance policy do not contain cash value provision When would I wouldn't of insurability be required for a person already covered with a viable universal life policy The death benefit is increased. Taxable income may be the result from all of these modified endowment contract (MEC) transaction except for The policy is surrendered for less than what was paid into it. What kind of life insurance policy allows the policy owner the choice of investment along with flexible premium payments Which statement regarding universal life insurance is correct Cash value accumulation have a guaranteed minimum interest rates.
Which statement regarding whole life insurance in accurate Insurance coverage can continue for life. Features of whole life insurance except Initial premium is lower then for an equivalent amount of term insurance. Which of these is not a reason to buy term life insurance How long does protection normally extend to under a limited pay whole life insurance policy What is the face amount a 50,000 graded that's benefit life insurance policy when the policy was issued Under 50,000 but increases in annually until fully insured. And insurance policy that can also be classified as a security product is called Which of the following combination best describe a universal life insurance policy A flexible premium deposit funds and a monthly renewable term Insurance policy When does the Insured stop making payment under a 30 payment whole life policy At the time of death or 30 year after the policy inception, whichever comes first When A 10 year renewable term Life insurance policy issued at the age 45 renew, The premium rate will be the continu rate for 10 year term Insurance for a person 55 Under in adjustable life insurance policy the following may not be change without further and underwriting A survivorship life insurance policy usually covers how many lives How does a continuance premium whole life policy differ from a limited pay whole life policy The time period in which premium will be paid Who normally pays the premium for group credit life insurance Which is an accurate description of the premium in a graded premium life insurance policy Annual increase in premiums for a stated number of years then level off for the remainder of the contract Which statement concerning a decreasing term life policy is accurate Face amount decreases over the policy period Peter age 50 surrendered his modified endowment contract. How is the gain treated in terms of federal income taxes The gain is treated as taxable income any penalty tax is imposed on the gain. What policy is considered a whole life policy Which statement regarding the cash value of a whole life insurance policy is correct Available to the policy owner when policy has been surrender Which of these is not an allowable deduction made from premium payment of the cash value of a variable life insurance policy A life policy that has premium that are lower than normal during the early years is called The following combination Best describes a universal life insurance policy A flexible premium deposit found and a monthly renewable term insurance policy Assets that back the back the non guarantee values of variable Life insurance product are held in which account Separate accounts set up by the insurer An individual Who purchase a modified life insurance policy except An improvement in future income Which do you like insurance policies do not contain cash Laura add a children rider to her life insurance policy. What type of coverage was added? What would be considered an advantage of purchasing term life insurance The initial premium is lower compared to the same amount of whole life coverage These is Not an allowable deduction made from premium payment of the cash value of a variable life insurance policy Which of the follow would Not be a reason for purchase life insurance on a child life Provide benefit for the child if the parent die What is a flexible premium life insurance policy?As the name implies, flexible premium, or adjustable life insurance allows the customer to choose higher or lower premiums at numerous points throughout the policy's life. These plans also come with a flexible cash value component. You can opt for higher premiums and use them to increase the policy's cash value.
What type of life insurance incorporates flexible premiums?Adjustable life insurance is a permanent life insurance policy that gives policyholders the flexibility to change the premiums and death benefits. A hybrid policy that incorporates features of term life and whole life insurance is adjustable life insurance.
Which type of life insurance policy allows a policyowner the choice of investments?Variable Life Insurance
The death benefit and cash value depend on the investment success of the separate account. The policyowner can choose to invest in bonds, stocks, mutual funds, or international funds.
Which type of life insurance is also an investment for the owner?But one type of life insurance can also be used to invest. Cash value life insurance, a form of permanent life insurance, provides a path to accomplish two objectives at once: It accrues cash value that can earn capital gains as an investment, and it pays out to your dependents if you die while the policy is active.
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Which type of life insurance policy allows a policy owner the choice of investments along with flexible premium payments?
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