- / 2
xcel Life Policies ExamActual Questions and Answers |Latest 2025 Update with Complete Solution.
Which of these riders will pay a death benefit if the insured's spouse dies?
- Family term in surance rider
- Payor benefit rider
- Guaranteed Insurability rider
- Family Whole Insurance rider - ANSWER-A. Family term insurance rider
A family term insurance rider provides a death benefit if the spouse of the insured dies
A renewable Term Life insurance policy allows the policyowner the right to renew the policy _____.
- Paying the same premium as before the renewal
- Without producing proof of insurability
- As many times as the policy owner chooses
- At anytime the policy owner chooses - ANSWER-B. Without producing proof of
insurability
If term life insurance is renewable the policyowner is purchasing the right to renew the policy without showing proof of insurability.
A single premium cash value policy can be described as
- A policy that is guaranteed issue
- A policy that is paid up after only one payment
- A policy that covers two or more lives
- A policy that only requires an annual payment - ANSWER-B. A policy that is paid up
after only one payment
A single premium cash value policy is best described as a policy that is paid up after only one payment
Which of these would be the best example of a limited pay life insurance policy?
- Term life policy with premiums paid up after 20 years
- Term life policy that returns cash value after 20 years
- Whole life policy that pays out its cash value over a 20 year period
- / 2