Life Insurance Study Exam- Georgia |correctly Answered Questions

Which of the following statements about the Misstatement of Age provision in a Life insurance policy is true? {Ans: If the insured's age has been understated, it provides that a death benefit smaller than the face amount of the policy will be payable}On Life insurance, the purpose of the Entire Contract Clause is to: {Ans: Limit the policy to the contract plus the application, if attached}If the insured understated his age and the error is discovered after the insured's death, the insurance company will: {Ans: Pay the amount that the premium paid would have purchased at the correct age}Which of the following types of insurance policies would provide the greatest amount of protection for a temporary period during which an insured will have limited financial resources? {Ans: Term}A rider that keeps a policy from lapsing due to non-payment of premium by borrowing from the cash value is: {Ans: Automatic Premium Loan}Most Term Life insurance: {Ans: Is convertible to permanent Whole Life without a physical exam}To add coverage for a child to your Whole Life policy you would purchase which of these riders? {Ans: Child Term Rider}In order to sell variable life insurance you