Missouri life insurance Study guides, Class notes & Summaries

Missouri Life Insurance Exam Questions And Verified Answers Latest Updated 2024/2025 (ALREADY GRADED

When an employer terminate coverage under a group policy, how long is that coverage in force? - Answer 31 Days. The employee has 31 days under the conversion privilege to convert to an individual policy. When talking about parties to a contract, what makes a person legally competent. - Answer The person must complete secondary education. What is the number of credits required for the fully insured status of social Security disability benefits? - Answer 40 What type of insurance wo...

Life and Health Insurance Exam (Missouri) with Verified Solutions Insurance policies are considered aleatory contracts because: 1)they are take it or leave it contracts 2)both parties consent to the contract 3)performance is conditioned upon a future occurence 4)the contract is voidable upon proof of fraud Performance is conditioned upon a future occurence, because there is an element of chance and potential for unequal exchange of value K failed to pay a renewal premium within the time gra...

Missouri Life Insurance Exam Questions & Answers 100% accurate! 401(k) Plan -ANSWER A qualified retirement plan in which the employee can set aside a portion of their income with pre-tax dollars. Absolute Assignment v. Collateral Assignment -ANSWER Absolute: A permanent and irrevocable transfer of rights and/or benefits by the policyowner. Collateral: A temporary and/or revocable transfer of benefits by the policyowner Accelerated Death Benefit -ANSWER Policy provision that allows f...

401(k) Plan -ANSWER A qualified retirement plan in which the employee can set aside a portion of their income with pre-tax dollars. Absolute Assignment v. Collateral Assignment -ANSWER Absolute: A permanent and irrevocable transfer of rights and/or benefits by the policyowner. Collateral: A temporary and/or revocable transfer of benefits by the policyowner Accelerated Death Benefit -ANSWER Policy provision that allows full or partial payment of the policy's death benefit before the in...

Missouri Life Insurance Exam Verified A+ Insurance Plans and Policies - 401(k) Plan: ️ A qualified retirement plan in which the employee can set aside a portion of their income with pre tax dollars. - Accelerated Death Benefit: ️ Policy provision that allows full or partial payment of the policy's death benefit before the insured's death if he/she is terminally ill. - Accidental Death Benefit: ️ An extra cost rider that requires the insurance company to pay an additional...

Missouri Life Insurance Exam (2022/2023) Already Graded A 401(k) Plan A qualified retirement plan in which the employee can set aside a portion of their income with pre-tax dollars. Absolute Assignment v. Collateral Assignment Absolute: A permanent and irrevocable transfer of rights and/or benefits by the policyowner. Collateral: A temporary and/or revocable transfer of benefits by the policyowner Accelerated Death Benefit Policy provision that allows full or partial payment of the policy's ...

Missouri life insurance exam practice complete exam update.

01(k) Plan - ANSWER-A qualified retirement plan in which the employee can set aside a portion of their income with pre-tax dollars. Absolute Assignment v. Collateral Assignment - ANSWER-Absolute: A permanent and irrevocable transfer of rights and/or benefits by the policyowner. Collateral: A temporary and/or revocable transfer of benefits by the policyowner Accelerated Death Benefit - ANSWER-Policy provision that allows full or partial payment of the policy's death benefit before the ...

Missouri Life Insurance – Questions With Solutions