214 Florida Insurance Study Guide Graded A+

Exclusion ratio {Ans: Which formula is used to compute the taxable portion of an annuity payment?}No minimum {Ans: In the state of Florida, what is the minimum number of members required for a group life insurance policy?}Once this period of time ends, an insurance company cannot contest the validity of a policy and must pay its death benefits, even if a policyowner had no insurable interest in the insured at the time of application. {Ans: All of the following statements are true in regards to the incontestability of a life insurance policy EXCEPT}Graded premium whole life {Ans: Which type of whole life insurance policy is characterized by affordable premiums in its initial years, then gradually increasing over the next few years until finally leveling off at a slightly higher rate than a standard whole life policy?}Which two life insurance riders can Bill purchase to guarantee that his policy will continue without further commitment from him and that income will be paid to him if he becomes totally and permanently disabled? {Ans: Waiver of premium and Disability Income Riders}required only after the enrollment period ends. {Ans: In a group life contract, evidence of insurability is}