Ttcyftxycf (343)-10

University of Florida **We aren't endorsed by this school
Nov 3, 2023
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The theory of probability is applied to life insurance through the use of - ✔✔ mortality tables What is the difference between deferred annuities and immediate annuities? - ✔✔ Deferred annuities have longer accumulation periods. Which of the following is NOT an option for the use of the policy dividends? - ✔✔ fund the distribution of monthly income payments The insured is totally and permanently disabled. The insured's policy continues in force without payment of further premiums because the policy contains a - ✔✔ waiver of premium provision Your client has just bought a new home which he has financed with a $150,000, 7.5% interest, 30-year bank loan. He would like to be sure that id he died that the unpaid balance of the mortgage would be paid. He wants a policy that will cover the mortgage balance-no more, no less-anytime during the life of the mortgage. Which policy is designed to meet this need? - ✔✔ decreasing term policy Death benefits that are received by a beneficiary are generally - ✔✔ exempt from federal income tax An insured replaces an existing annuity with a new one and must pay a surrender charge for canceling the existing annuity. The new policy holds no greater financial benefits to the insured than the existing contract. This is an example of - ✔✔ an unnecessary replacement What do we call the process whereby insurers decide which customers to insure and what coverage to offer? - ✔✔ underwriting What is used to determine the amount of an annuity distribution that is exempt from taxation? - ✔✔ the exclusion ratio The number of deaths during a year compared with the total number of persons exposed in the class is known as the - ✔✔ mortality rate
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