Indiana Life And Health Study Guide Graded A+

Life insurance creates an immediate estate. Which of the following best explains this statement? a) The face value of the policy is payable to the beneficiary upon death of the insured. b) The policy has cash values and nonforfeiture values. c) The policy generates immediate cash value. d) The death benefit will always be paid to the estate of the insured. {Ans: A}A husband and wife both incur expenses that are attributed to a single major medical insurance deductibles. Which type of deductible do they have in their policy? a) Flat b) Annual c) Per occurrence d) Family {Ans: D}Regarding the PPACA health care tax credit, which of the following is true? a) Tax credits are based upon a taxpayer's or family's expected annual medical expenses. b) All wage earners who purchase a health care insurance are eligible for the tax credit. c) Tax credits are sent to the tax payer to reduce monthly insurance premiums. d) Persons receiving Medicaid are not eligible. {Ans: D}According to the Life Insurance Solicitation Rule 24, what would be defined as cost? a) The dividend projections. b) The difference between what the insured pays and what he gets in return. c)