Free Types of Life Insurance Policies Practice Questions
South Carolina Life, Accident & Health exam — 55 practice questions.
Subtopics: Group life eligibility, Group life underwriting, 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, Industrial life, Credit life, Multiple protection, Fraternal and other
Read the Types of Life Insurance Policies study guide
Sample questions & answers
1. A South Carolina group life policy may be issued to cover persons associated in a common group that was formed:
For a purpose other than obtaining insurance
S.C. Code 38-65-40(1) permits group life to be issued to a trust or to cover two or more persons associated in a common group formed for purposes other than obtaining insurance.
2. For a South Carolina group life plan covering 25 or more persons, evidence of individual insurability for basic coverage may NOT be required if the person enrolls:
When first eligible or within 31 days after
S.C. Code 38-65-40(3) bars requiring individual evidence of insurability for groups of twenty-five or more when a person first becomes eligible or within thirty-one days, except for supplemental coverage.
3. 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.
4. A term policy whose death benefit remains the same throughout the term is:
Level term
Level term keeps a constant face amount for the policy term.
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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.
