Life 1

The human life value concept is based on

• Income

• Age

All these are common personal uses of life insurance EXCEPT

• Fund buy-sell agreement

• Annually

Key person insurance is intended to

• Cover business losses due to the death of a key employee

• Cover business gains due

Buy sell agreements are typically funded by which two insurance products?

• Life insurance and disability insurance

• Health insurance and life insurance

Life insurance creates an immediate estate. This phrase means :

• When the insured dies , we don’t pay benefits

• When the insured dies , a death benefit I paid .

What does the term “illustration “ mean when used in the phrase “life insurance policy illustration “ according to the California insurance code ?

• Presentation of policy features that include non- guaranteed elements

• Employee stock

The California insurance code allows an individual how many days to cancel a life policy for a full refund?

• Between 10 and 30 days

• Between 50 and 60 days

The free look period for life insurance policy owners age 60;or older is

• 30 days

• 90 days

An agents attemp to stop the replacement of an existing life insurance Policy is known as

• Conversation

• Income

Life insurance surplus must be distributed to policy owners at what frequency?

• Annually

• Monthly