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WorksheetsCh. 6: Fl. Statutes, Rules and Regulations Pertinent to Life
Total questions: 10
Worksheet time: 5mins
Which of the following documents must be provided to the policy owner or applicant during policy replacement?
Buyer's Guide and Policy Summary
Policy illustrations
Notice Regarding Replacement
Disclosure Authorization Form
What kind of policy does NOT typically require proof of insurability?
Term Insurance
Individual Insurance
Group Insurance
Variable Life Insurance
Regulations for annuity recommendations would apply when a consumer is at least what age?
50 years old
62 years old
65 years old
70 years old
Which of the following dates must be contained in a policy summary?
The date that the policy was issued
The date that the producer was licensed
The date the summary was prepared
The date the application was signed
An employee will be taxed on the cost of group life insurance paid by the employer if the amount of coverage exceeds
10,000
15,000
25,000
50,000
Which statement is NOT true regarding a policy summary?
It is generally given to applicants before acceptance of the initial premium.
It must include the generic name of the basic policy and each rider.
It must include the date the policy summary is prepared.
It must be combined with a sales illustration.
Who does the secondary addressee provision protect?
Contingent (secondary) beneficiaries
The insured whose policy is being replaced
The insurance company
The insured over the age of 64
In life policies issued in this state, insurers are permitted to charge interest during the policy grace period for the number of days elapsing before the premium is paid. What is the maximum annual interest rate?
6%
8%
10%
15%
Which term describes the benefits of a life insurance policy that the policy owner does not automatically relinquish even if the policy lapses?
Permanent values
Cash values
Guaranteed values
Nonforfeiture values
The clause that protects the proceeds of a life insurance policy from creditors after the death of the insured is known as the
Incontestability clause.
Beneficiary protection clause.
Spendthrift clause.
Benefit protection clause.
