Download GA Life, Health and Accident Insurance Exam Latest Update 2023 and more Exams Nursing in PDF only on Docsity! GA Life, Health and Accident Insurance Exam Latest Update 2023 An individual wishes to purchase whole life Insurance but does not wish to pay premiums past retirement age. Which of the following policies should the person buy? - correct answers ✅Limited pay In addition to the Insurance Department, who has the authority to regulate variable life insurance? - correct answers ✅Securities Exchange Commission Rules and regulations made by the Commissioner of Insurance must be approved by the - correct answers ✅Georgia Attorney General Which of the following has the greatest impact in making one individual's life insurance premium different from that of another individual, assuming both own the same type of policy? - correct answers ✅The policy's mortality factor Frank is the insured in a $40,000, 5-year level term policy issued in 2001. He died in 2007. His beneficiary received - correct answers ✅nothing Michelle, age 31, just purchased a $50,000 variable life insurance policy. With regard to her policy, which of the following statements is NOT correct - GA Life, Health and Accident Insurance Exam Latest Update 2023 correct answers ✅At her death, her beneficiary may receive more or less than $50,000 in proceeds. Term life insurance is... - correct answers ✅Term insurance provides protection for only a temporary period An applicant for health insurance completes the application and satisfies all of the conditions of the conditional receipt. If the policy is eventually issued as applied for, coverage takes effect: - correct answers ✅just as if the policy had already been issued Tom has a $50,000 whole life policy. If he continued to pay the required premiums and lived to age 100, he would receive: - correct answers ✅$50,000 as an endowment An applicant for an agent license has failed the written examination 3 times. What must the applicant do in order to take the examination a fourth time? - correct answers ✅ke the prelicensing course before retaking the exam.
