Alabama Life Insurance Study guides, Class notes & Summaries

Which clause allows the insured to change an existing policy to any other policy of any type as long as the new policy has a higher premium, without any proof of insurability? - correct answer Privilege of change clause The extended term nonforfeiture option provides: - correct answer Paid-up term coverage equal to that of the original policy With a collateral assignment of a life policy to a creditor: - correct answer You assign a partial amount of the policy values to the creditor An ...

ALABAMA LIFE INSURANCE EXAM 2024 WITH 100% CORRECT ANSWERS The minimum grace period for a life insurance policy sold in Alabama is: - correct answer 30 days Alabama's annuity disclosure regulation: - correct answer Requires the delivery of a buyer's guide and a disclosure document to annuity applicant An insurer pays a large claim for medical expenses after the insured has only made one premium payment. This is an example of an: - correct answer Aleatory contract Which of the fol...

ALABAMA LIFE INSURANCE EXAM 2024 WITH 100% CORRECT ANSWERS Which clause allows the insured to change an existing policy to any other policy of any type as long as the new policy has a higher premium, without any proof of insurability? - correct answer Privilege of change clause The extended term nonforfeiture option provides: - correct answer Paid-up term coverage equal to that of the original policy With a collateral assignment of a life policy to a creditor: - correct answer You assig...

Alabama Life Insurance Exam Questions With 100% Correct Answers 2024

Alabama Life Insurance Final Exam With 100% Correct Answers 2024

Alabama Life Insurance Exam Questions With 100% Correct Answers 2024

Alabama Life Insurance Exam Questions With 100% Correct Answers. At what point does coverage begin when an agent issues a conditional receipt for a life insurance policy? date of application or date of medical exam whichever is last What is the purpose of insurance guaranty associations? to protect policy owners, insureds, and beneficiaries from financial losses caused by insolvent insurers Which of the following is true about a defined benefit plan? High-salaried employees with only a f...

Final Exam Alabama life Insurance Questions With Complete Solutions Graded A+ The minimum grace period for a life insurance policy sold in Alabama is: 30 days Alabama's annuity disclosure regulation: Requires the delivery of a buyer's guide and a disclosure document to annuity applicant An insurer pays a large claim for medical expenses after the insured has only made one premium payment. This is an example of an: Aleatory contract Which of the following is NOT guaranteed by a whole l...

Which clause allows the insured to change an existing policy to any other policy of any type as long as the new policy has a higher premium, without any proof of insurability? - correct answer Privilege of change clause The extended term nonforfeiture option provides: - correct answer Paid-up term coverage equal to that of the original policy With a collateral assignment of a life policy to a creditor: - correct answer You assign a partial amount of the policy values to the creditor An ...

ALABAMA LIFE INSURANCE EXAM RATED A

ALABAMA LIFE INSURANCE EXAM WITH VERIFIED SOLUTIONS