Free Types of Life Insurance Policies Practice Questions
Texas Life Agent exam (series InsTX-Life01) — 119 practice questions.
Subtopics: Group conversion, Employer group eligibility, Conversion policy form, Conversion timing, Credit life, Dependent group coverage, Group life grace period, Group life provisions, Group life statements, Group life conversion, Group life certificates, Group life eligibility, Group life amounts, Group life dependents, Group life spouse conversion, Group life assignment, Credit life refunds, Credit life claims, 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, Level term premium, Term expiration, Renewal premium, Original age conversion, Decreasing term premium, Whole life cash value at maturity, Limited pay premium, Life paid-up at 65, Single premium MEC, UL cash value crediting, UL monthly deductions, UL lapse, UL no-lapse guarantee, Indexed UL floor, Indexed UL participation, Variable life investment risk, Group life minimum size, Group certificate, Group conversion death, Group life COBRA, Multiple employer trust, Credit life amount, Credit life beneficiary, Joint life cost, Juvenile owner, Return of premium term cost, Equity indexed whole life, Term vs permanent selection, Second-to-die use, Group term imputed income
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. A Texas group life policy issued to an employer must cover at least how many employees on the date the policy is issued?
Two
An employer group life policy must cover at least two employees on its date of issue.
3. A Texas group life conversion policy is generally issued as:
An individual permanent policy at the attained-age rate
The converting employee may choose any individual policy other than term insurance that the insurer customarily issues, at the insurer's then-customary rate for the insured's attained age, without evidence of insurability.
4. A terminated Texas group life certificateholder generally must apply to convert to an individual policy within:
31 days
The individual must apply and pay the first premium within 31 days after employment or membership ends.
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.
