Island Insurance Exam Test Questions

if a 10 year term life policy contains a renewability in provision, the policy will renew {Ans: w/o evidence of insurability}P is looking to purchase a life insurance policy that will pay a stated monthly income to his beneficiaries for 20 years after he dies and a lump sum of $20,000 at the end of that 20 year period. What type of policy should P purchase? {Ans: family maintenance policy}which best describes a warranty {Ans: statement guaranteed to be true}P is a producer who notices 5 questions on a life application were not answered. What actions should P take? {Ans: set up meeting with applicant to answer the questions}Under a trustee group life policy, who would be eligible for a certificate of coverage? {Ans: employee}A(n) ________ life policy combines investment choices with a form of term coverage {Ans: variable universal}