A single premium policy means a policy

A fixed amount added to the premium of a given policy regardless of policy size is known as

To be able to calculate the required premiums for a given policy, the agent must know the applicant’s

To calculate premiums for the other modes of premium payment, the annual premium is

A father enters into a life insurance contract on behalf of his child. In this case, the father is the

The convertible feature of a term insurance policy provides that the policy may be

Within two years of buying a life insurance policy, you are accidentally killed when your car hits a tree. In these circumstances the insurance company will

When explaining dividends, the following information must be supplied

Part of the premium paid by a policyholder is invested by the insurance company. In premium computation, this factor is known as

The parties involved in life insurance contract are the

The fundamental advantage of the use of insurance as a means of meeting economic losses is that through insurance these losses are

Life insurance contributes directly to the welfare and progress of the country by

The number of years that persons at a given age will live on the average as shown by the mortality table is called

An insurance plan which offers both protection and savings is called

A man with moderate means can have maximum protection possible through

Mr. Juan Valdez wants a policy which will entitle him to receive dividends yearly. What will you recommend to Mr. Valdez?

Which of the following can give the longest protection?

An Individual, at age 35, purchases a policy under which he will in 20 years receive the face amount of the policy himself if he is still alive at that date. This policy is obviously a

In a 20 Life policy

A participating plan entitles the policyowner to receive a return of excess premium. Such is termed as:

Mrs. Rose Cortez owns a policy which does not provide for the build up of cash values and whose premiums remain level. Mrs. Cortez owns:

Two attractive features of a Term insurance are:

A term insurance which allows the policyowners to convert it to a permanent insurance within a specified period without evidence of insurability contains _____________features:

A term policy only offers

The main difference between a term plan and a permanent plan is

The savings element of permanent plans allows for the build up of

A term rider is

An optional rider which can be attached to a policy stopping further premium payment in the event of disability is called

For the waiver of premium to be effective

Disability benefits are not paid

Mr. Pedro Cruz became paralyzed as a result of jumping out of the window in an attempt to commit suicide. Under the usual provisions of a disability income policy, he would be entitled to

A person wanting a greater coverage for the least amount of premium has an option of attaching what rider in his permanent life policy?

One supplementary benefit offered is a payor’s benefit which is intended to

If an insured is disabled and his life insurance policy is being continued in force through the waiver of premium, the dividends of the policy would

A policy with a minor as the proposed insured is called

Life insurance policies for which higher than standard premium rates are payable are said to be

Since the purchase of life insurance is a voluntary choice, the individual must meet

Which of the following factors would have the least effect on the premium charged for life insurance

Insurance Companies have various sources of information about the insured. These are

Anti-selection occurs

In insurance, risk means

In an application, the information that must be disclosed include

In insurance risks are classified as

A risk is considered substandard based on any or all of the following criteria

A hazardous occupation could be defined

Statements in the application forms are

An agent is filling up the Agent’s Confidential Report. What information must he put in his report?

Mr. Roel Reyes has been confined in a hospital 3 years prior to his application for insurance. He, therefore, needs to give the following information

Insurance companies have a source of confidential medical information on applicants for life insurance. This is the

Insurance companies which are owned by the policyowners are examples of

Stock companies are owned by

Why is it important that the application is the basis of the policy?

Which one of the following statements is correct?

Choose the incorrect statement The entire contract between the policyowner and the insurance company include:

Life insurance is

A life insurance company earns income from two main sources

The official who makes the necessary assumption and calculation with respect to the principal elements of life insurance premium in order to arrive at the premium rates to be charged is the

The term loading means

Life insurance can provide money when income stops because of

The three elements that make up a life insurance premium are