GA Life, Health And Accident Insurance Exam 19 Questions And Answers
1 / 10
Terms in this set
19
An individual wishes to purchase whole life Insurance but does not wish to pay premiums past retirement age. Which of the following policies should the person buy?
Limited pay
In addition to the Insurance Department, who has the authority to regulate variable life insurance?
Securities Exchange Commission
Rules and regulations made by the Commissioner of Insurance must be approved by the
Georgia Attorney General
Which of the following has the greatest impact in making one individual's life insurance premium different from that of another individual, assuming both own the same type of policy?
The policy's mortality factor
Frank is the insured in a $40,000, 5-year level term policy issued in 2001. He died in 2007. His beneficiary received
nothing
Michelle, age 31, just purchased a $50,000 variable life insurance policy. With regard to her policy, which of the following statements is NOT correct
At her death, her beneficiary may receive more or less than $50,000 in proceeds.
Term life insurance is...
Term insurance provides protection for only a temporary period
An applicant for health insurance completes the application and satisfies all of the conditions of the conditional receipt. If the policy is eventually issued as applied for, coverage takes effect:
just as if the policy had already been issued
Tom has a $50,000 whole life policy. If he continued to pay the required premiums and lived to age 100, he would receive:
$50,000 as an endowment
An applicant for an agent license has failed the written examination 3 times. What must the applicant do in order to take the examination a fourth time?
ke the prelicensing course before retaking the exam.