A term rider typically provides for a conversion period, during which the rider

Question

A term rider  typically provides for a conversion period, during which the rider may be  converted into permanent coverage without evidence of insurability.

             True     

             False     

2 points   

Amounts received by  a terminally ill insured under an accelerated death benefit provision are  excluded from gross income.

             True     

             False     

2 points   

             True     

             False     

2 points   

The automatic premium loan provision is activated when

2 points   

An annuity is the  only investment that can guarantee the investor will not outlive his or her  income.

             True     

             False     

2 points   

             True     

             False     

2 points   

If the annuitant  dies after annuity benefit payments have started under a

                            
           the policy cash value drops below the bailout rate                                 
           the agent-of-record files the correct form                                 
           the applicable Table I rate is exceeded by at least 10%                                 
           a policy premium remains unpaid at the end of the premium payment grace period    

Explanation / Answer

(1) true

(2) true

(3) false

(4) a policy premium remains unpaid at the end of the premium payment grace period

(5) false

(6) False

(7) the payments cease

(8) tax deferred growth

(9) true

(10) To provide a fund needed only if death should occur within a short period of time after purchase.

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