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Free Types of Life Insurance Policies Practice Questions

Texas Life Agent exam (series InsTX-Life01) — 72 practice questions.

Subtopics: Group conversion, Group eligibility, Conversion policy form, Conversion timing, Credit life, Dependent group coverage, Term basics, Level term, Decreasing term, Renewable term, Convertible term, Whole life, Limited-pay life, Single premium, Adjustable life, Universal life, UL death benefit options, UL corridor, Variable life, Variable universal life, Indexed universal life, Joint life, Survivorship life, Increasing term, Annual renewable term, Juvenile insurance, Jumping juvenile, Return of premium term, Modified whole life, Index whole life, Continuous premium, Group eligible groups, Group characteristics, Noncontributory plan, Contributory plan, Survivorship cost, Interest-sensitive whole life, Survivorship second-to-die life, Family income policy, Family maintenance policy, Family plan policy, Graded premium whole life, Graded death benefit policy, Guaranteed issue life, Simplified issue life, Multiple protection policy, Endowment policy, Pure endowment, Term to age 100, Conversion attained vs original age, Reentry term, Deposit term, Group term dependent coverage, Group permanent life, Franchise life insurance, Industrial life insurance, Pre-need funeral insurance, Final expense whole life, Standalone accidental death policy, Survivorship universal life, UL Option A death benefit, Target premium UL, Single-premium variable life, Minimum deposit policy, Modified coverage whole life, Combination whole life and term, Joint life vs survivorship, Convertible group term

Read the Types of Life Insurance Policies study guide

Sample questions & answers

1. When Texas group life coverage terminates, a covered employee generally may:

Convert to an individual policy without evidence of insurability within a set period

A terminating group certificateholder generally may convert to an individual policy without proving insurability.

2. Eligibility requirements for Texas group life insurance are established by:

Statute (Chapter 1131)

Chapter 1131 of the Insurance Code establishes eligibility standards for group life insurance in Texas.

3. A Texas group life conversion policy is generally issued as:

An individual permanent policy at the attained-age rate

Conversion is to an individual policy at attained-age rates, without evidence of insurability.

4. A terminated Texas group life certificateholder generally must apply to convert to an individual policy within:

31 days

The conversion privilege must be exercised within 31 days after group coverage ends.

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Practice: Types of Life Insurance Policies

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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.