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10 Cards in this Set
- Front
- Back
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Which of the following is the beneficiary in credit life insurance?
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A. Insured
B. Borrower C. Creditor D. The insurance company |
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A printer has hired an advertising agency to design and edit advertisement brochures for an insurance company. Once the brochures are printed, who is responsible for the advertisements and their content?
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A. The printer
B. THe advertising agency C. The insurance company D. The Department of Insurance |
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What provision in a life insurance policy extends coverage beyond the premium due date?
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A. Automatic premium loan
B. Waiver of premium C. Free look D. Grace period |
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According to the limitations of lawsuits provision, how many years does a claimant have to take legal action against the insurer?
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A. 1 year
B. 2 years C. 3 years D. 4 years |
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What is the term for an insured who enters into a viatical settlement?
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A. Viator
B. Third party C. Viatical broker D. Viatical beneficiary |
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How long is the grace period in group life policies issued in this state?
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A. 15 days
B. 21 days C. 31 days D. 90 days |
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In credit life insurance, who is responsible for paying the policy premium?
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A. Creditor
B. Borrower C. Beneficiary D. The policyowner |
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In an individual life insurance policy, when must the nonforfeiture benefits begin?
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A. After the first policy year
B. After 3 policy years C. At the end of the second policy year D. At the request of the insured |
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The use of words or symbols that are similar to which of the following entities is prohibited in life insurance advertisement?
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A. Federal governement
B. Department of Insurance C. Stock companies D. Private insurers |
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How many days does a viator have to rescind a viatical settlement after receiving the proceeds?
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A. 10 days
B. 15 days C. 30 days D. 45 days |
