Pearson Vue Life Insurance Practice Exam Questions With 100% Verified Answers

If an applicant for life insurance submits a completed application to a producer without paying the first premium, coverage becomes effective when the: A: producer accepts the application B: applicant successfully completes the medical examination C: insurer approves the application D: policy is delivered and the premium paid {Ans: D: policy is delivered and the premium paid}If a policy contains a Guaranteed Insurability rider, the insured has the right to purchase: A: additional coverage when the insured reaches retirement age B: additional coverage whenever the insured changes jobs C: additional coverage at specified ages D: coverage on the insured's children withing thirty-one days after they are born {Ans: C: additional coverage at specified ages}The Waiver of Premium provision of a life policy allows the insurer to take which of the following actions? A: Waive an insured's premium if the insured becomes totally disabled before a certain age B: Waive an insured's premium if the insured becomes partially disabled for a minimum time C: Increase an insured's coverage at an attained age without imposing a premium increase D: Reduce an insured's premiums if the insured pays them annually instead of monthly {Ans: A: Waive an insured's premium if