Tennessee life and health final exam Questions With Complete Solutions Major medical policies typically - Correct Answers ✅contain a deductible and coinsurance The reason for backdating a policy is - Correct Answers ✅to obtain a premium rate based on an earlier age Any changes made on an insurance application requires the initials of whom? - Correct Answers ✅applicant which of these is NOT a reason for purchasing life insurance on the life of a minor - Correct Answers ✅If both parents were to die, it would provide death benefits to the child On a life insurance policy, who is qualified to change the beneficiary designation - Correct Answers ✅Policyowner All of these insurance subjects qualify for continuing education credits in Tennessee EXCEPT - Correct Answers ✅motivating producers P's individual Health policy is now in the grace period. P's coverage will remain in force if - Correct Answers ✅the premium is paid which of the following is the purpose of the Tennessee guaranty Association - Correct Answers ✅all of the above 1 / 3
Tennessee life and health final exam Questions With Complete Solutions D is the policy owner and insured for a $50,000 life Insurance policy. The beneficiary is D's wife. D and His wife divorce and D remarries, transferring the ownership of his policy to his new wife. If D dies without making any further changes, to whom with the policy proceeds be paid to - Correct Answers ✅ex-wife all of these statements concerning settlement options are true, except - Correct Answers ✅Only the beneficiary may select A producer MUST leave a buyer's guide with an applicant for which type of policy? - Correct Answers ✅universal life insurance Which factors are taken into consideration when an insurance company determines the premium rate for a whole life policy on an applicant - Correct Answers ✅Risk classification Which of the following does Social Security not provide benefits for - Correct Answers ✅dismemberment Which of the following is the reimbursement of benefits for the treatment of the beneficiary's injuries caused by a third- party - Correct Answers ✅subrogation 2 / 3
Tennessee life and health final exam Questions With Complete Solutions T has Disability Income policy that pays a monthly benefit of $5000. If T becomes partially disabled, what can he likely expect? - Correct Answers ✅Less than $5,000 per month benefit regardless of the cause Variable Whole Life Insurance can be described as - Correct Answers ✅both an insurance and securities product The annuity that represents the largest possible monthly payment to an individual annuitant is a(n) - Correct Answers ✅Straight Life annuity When does the free-look provision for health insurance begin
- Correct Answers ✅date the policy is delivered to the
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insured The combination of whole life and _______ Term insurance as referred to as a family income policy - Correct Answers ✅decreasing The notice of claim's provision requires a policy owner to - Correct Answers ✅notifying insurer of the claim within a specific time Expires a $10,000 whole life policy in 2003 and pays an anyone premium of $100. S dies five years later in 2008 and ensure pays the beneficiary $10,500. What kind of rider did S