Kansas Life Accident and Health Exam | 200 Questions with 100% Correct Answers | Verified | 20 Pages

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What type of annuity provides a pre-determined income amount for life? - ANS - Fixed Life annuity A life insurance policy which matures at the termination of a specified period other than age 100 i... s an - ANS - Endowment A type of life insurance policy that a person may purchase to make sure that a debt or loan will be paid off in case of their premature death. - ANS - Mortgage redemption insurance A whole life policy owner's cash value savings value will equal the policy's face amount at what age? - ANS - Age 100 A policy that possesses the lowest initial annual premium. - ANS - Modified Life What increases each year in an increasing term insurance rider? - ANS - The amount of coverage If an insured purchases a decreasing term life insurance policy, what portion of the contract decreases? - ANS - The Death Benefit An annuity settlement option that possesses the potential for providing the maximum amount of benefits per dollar of outlay - ANS - Straight Life Annuity A family policy is a combination of - ANS - Whole life and level term What type of refund is available to the beneficiary of an annuitant which will pay the refund in a limp sum? - ANS - Cash Refund [Show More]

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