Ca State Life And Health Insurance Exam Q&a Pdf

26 {Ans: On group life insurance, dependent children may be covered up to age:}The employer is the policyowner and the beneficiary Death benefits are payable to the employer tax free The employee is the insured {Ans: All of the following are true regarding key person life insurance:}Paid-up additions 1-year term Cash {Ans: All of the following are dividend options on a participating life insurance policy:}Variable life {Ans: A client who wants life insurance protection and cash values that fluctuate in value based upon the performance of a separate account should purchase:}Applicant {Ans: Which of the following completes the application for life insurance?}The account value {Ans: In the case of a variable annuity sold to a senior citizen in this state for which the owner has directed that the premium be invested in the mutual funds underlying the contract during the 30-day cancellation period, cancellation during that period entitles the owner to a refund of:}They are purchased by those who are worried about outliving their savings. They are not suitable as short term investments. They may be used as a life insurance settlement option. {Ans: All of the following are true regarding annuities}Reduced paid-up