Tn Health And Life Insurance Exam Questions And Answers Rated A+

what type of life policy has a death benefit that adjusts periodically and is written for a specific period of time {Ans: DECREASING TERM}A Life insurance arrangement which circumvents insurable interest statutes is called: - a contract of adhesion - an indemnity contract - key person insurance - investor- originated life insurance {Ans: INVESTOR ORIGINATED LIFE INSURANCE - This is done when an investor (or stranger) persuades an individual to take out life insurance specifically for the purpose of selling the policy to the investor. The investor compensates the insured and makes the premiums, then collects the death benefits when the insured dies}This type of deductible provision states that should more than one family memeber be involved in a common accident, or suffer the same illness, only one individual deductible amount shall be applied {Ans: COMMON ACCIDENT DEDUCTIBLE}Q applied for life insurance and submitted the initial premium on Jan 1. The policy was issued Feb 1, but it was not delivered by the agent until Feb 7. Q is dissastisfied and return the policy on Feb 13. How will the insurer handle this situation? - Premium will be fully refunded minus a surrender charge - policy was