Insurance Paper 43

Each of the following is true about taxes and life insurance except

A Keogh plan is

j applied for a life insurance policy one January. the policy was issued January 31. j's agent was vacationing at the time the policy was issued, so j did not receive the policy until February 18. j decides that he does not want the policy. when would j need to return to the insurer in order to receive a full refund of premium paid?

if an insured continually uses the automatic premium loan option to pay the policy premium

in a case where the primary beneficiary predeceases the insured, in the event of the insured's death, the death benefit proceeds will be paid to

when a life insurance was issued, the policyowner designated a primary and a contingent beneficiary. several years later, both the insured and the primary died in the same car accident, and it was impossible to determine who died first. which of the following would receive the death benefit?

an insured has a life insurance policy from a participating company and receives quarterly dividends. he has instructed the company to apply the policy dividends to increase the death benefit. the dividend option that the insured has chosen is called

what is the benefit of choosing extended term as a nonforfeiture option?

according to the entire contract provision, the policy must contain

a father purchases a life insurance policy on his teenage daughter and adds the pay benefit rider. in which of the following scenarios will the rider waive the payment of premium?