Life Insurance Exam 100% Verified Answers 2024/2025

Which of the following contracts provides benefits that fluctuate automatically with investment results? {Ans: Variable life insurance.}What does the statement "Life insurance creates an immediate estate" mean? {Ans: The total death benefit is paid whenever the insured's dies.}An insurer's request for an attending physician's report MUST be accompanied by a copy of the {Ans: signed authorization.}Which is an agreement in which an insurer contacts with a third party to insure itself against losses from insurance policies it issues? {Ans: Reinsurance}The California Insurance Code requirements regarding the return of life or annuity contracts issued to seniors {Ans: gives a senior at least 30 days to return specified life and/or annuity contracts for a full refund.}What do we call the process whereby insurers decide which customers to insure and what coverage to offer? {Ans: Underwriting.}