Ca Psi Site - Life, Accident And Health Agent Examination (Life Agent)| Questions And Answers, 100% Correct| Latest 2023/2024

Waiver of Premium {Ans: Life Insurance Disability Rider If the insured becomes totally disabled, the insurer will waive premiums for the duration of the disability or the end of the policy, whichever occurs first. To qualify for the waiver, the insured must be disabled for a waiting period of 3-6 months. The policyowner must continue to pay premiums during the waiting period, but once eligible, the waiver is retroactive to the start of the disability and the premiums will be refunded. During the disability, the insured will credit the premiums to the policy and all benefits, such as cash value accumulation and dividend payments, will continue.}Morbidity Tables {Ans: Morbidity: The predicted number of claims resulting from illness or injury in any given year for a specific group of insureds. • Morbidity tables are used to provide statistics that give the company a basic estimate of how many insureds might be expected to suffer an illness or injury in any year.}To protect (subject to statutory limitations) life and health owners and insureds in the event of impairment or insolvency of a member insurer. This is a description of: A. Medi-Cal B. The California Life and Health Insurance Guarantee Association