Free Types of Life Insurance Policies Practice Questions
Utah Life, Accident & Health exam (series 17-03) — 63 practice questions.
Subtopics: Group life, Group conversion, Group life disability, Group life dependents, Variable life licensing, Term life, Whole life, Universal life, Indexed life, Variable life, Variable universal 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. A Utah employer group life policy must make eligible:
All employees, or all of any class of employees
All of the employer's employees, or all of any class of employees, must be eligible for insurance under an employer group life policy.
2. A Utah group life policy must give the group policyholder a grace period of at least:
31 days
Group life policies must provide a grace period of not less than 31 days for premiums after the first; coverage continues unless the policyholder gives advance written notice of discontinuance.
3. Under a Utah group life policy, a statement an insured person made about insurability may be used to contest that person's coverage only if:
It is in writing and signed by the person
The group incontestability provision bars use of an insured's statement unless written and signed, and not after the coverage has been in force two years during the person's lifetime.
4. An employee covered by Utah group life leaves the job. To convert to an individual policy without evidence of insurability, the employee must apply and pay the first premium within:
31 days after the termination
A person losing group life coverage because employment ends may obtain an individual policy without evidence of insurability by applying and paying within 31 days.
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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.