Free Types of Life Insurance Policies Practice Questions
Georgia Life, Accident & Health exam (series 12-GA-05) — 56 practice questions.
Subtopics: Industrial life, Term life, Whole life, Universal life, Indexed life, Variable life, Variable universal life, Group life, Specialized policies, Annual renewable term, Return of premium term, Increasing term, Modified whole life, Limited-pay life, Joint life, Universal life Option A, Universal life target premium, Universal life interest crediting, Variable life prospectus, Variable products licensing, Interest-sensitive whole life, Endowment policy, Family income policy, Adjustable life, Credit life, Multiple protection, Fraternal and other
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Sample questions & answers
1. In Georgia, industrial life insurance is a policy with a face amount of not more than $2,000 on which premiums are payable:
Monthly or more often
Industrial life insurance pays not more than $2,000 on a single life, exclusive of accidental death benefits, with premiums payable monthly or more frequently.
2. Georgia prohibits an industrial whole life policy that allows total premium payments greater than what percentage of the face amount?
150 percent
No insurer may issue an industrial whole life policy allowing premiums that in the aggregate exceed 150 percent of the face amount.
3. A Georgia insurer may not knowingly issue industrial life coverage if its total industrial face amount on one person's life would exceed:
$2,000
The aggregate face amount of industrial life insurance an insurer issues on one person may not exceed $2,000, excluding accidental death benefits.
4. Term life insurance provides:
Death protection for a specified period that expires without value
Term insurance pays only if the insured dies within the stated period; if the insured survives, the coverage expires without value.
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Practice: Types of Life Insurance Policies
Answer choices are shuffled every time, and every question comes with an explanation.
Practice questions are study aids generated for exam preparation and are not actual exam questions. Content is provided for educational purposes and is not legal advice. Verify current statutes, rules, and exam specifications with the Insurance Department and the exam administrator before relying on it.
