Life Insurance Final Exam For Real Estate Mcqs Summary Solicitors Accounts

24 hours {Ans: Insurance producers must complete how many hours of continuing education each licensing period?}Waive an insured's premiums if he/she becomes disabled. {Ans: What is the advantage of a Waiver of Premium provision in a life policy?}The entire contract {Ans: The fact that the application is part of the policy is stated in:}Risk classification {Ans: Jacob, James and Jonathan are triplets, and all applied for the same type of insurance coverage at the same time. For James and Jonathan the rates were the same. Jacob's rate was quite a bit higher. What is the most likely reason for this difference?}Tell the prospective client that a claim might be rejected later due to the omission. {Ans: The producer realizes that the prospective client omitted information about a prior illness. What should the producer do?}January 22, after the statement of good health is signed, and the initial premium is paid. {Ans: On January 3, an application is submitted without the initial premium. The insurer requires a medical exam, and it is completed on January 15. On January 20, the insurer issued the policy standard, and the producer delivers it on January 22. When is coverage