Free Types of Life Insurance Policies Practice Questions
Florida Life, Health & Variable Annuity (2-15) exam (series 2-15) — 60 practice questions.
Subtopics: Prohibited policy plans, Eligible groups, Group life grace period, Group life conversion, Conversion on group termination, Death during conversion period, Group life dependents, 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
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Sample questions & answers
1. Florida prohibits insurers from issuing which type of life policy?
Coupon-bearing or annual endowment specialty policies
Section 627.479 prohibits tontine-style plans and specialty policies such as annual endowment, founder's, and coupon-bearing policies.
2. Which of the following is an eligible group for group life insurance under Florida law?
Members of a credit union
Florida statutes authorize group life for employee, debtor, labor union, trustee, and credit union groups, among others; groups formed to obtain insurance do not qualify.
3. A Florida group life policy must give the policyholder a grace period for premiums after the first of:
31 days
Section 627.559 requires a 31-day grace period for group life premiums, during which death benefit coverage continues.
4. When an employee leaves employment, Florida law allows conversion of group life coverage to an individual policy without evidence of insurability if application is made within:
31 days after termination
Section 627.566 gives a terminating insured 31 days to apply and pay the first premium for an individual policy without proof of insurability.
All Life, Health & Variable Annuity (2-15) topics
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.
