Question 1017 of 287 · Texas Life, Accident and Health Agent Exam
A convertible term policy lets the owner
Exactly one answer is correct.
You got of questions right. Here on the question pages nobody remembers which ones you got wrong. The trainer saves your progress and asks the mistakes again until they stick.
Or free: the 10 questions most people get wrong
Show solution
Correct answer to question 1017
- C: change to a permanent policy without evidence of insurability
Explanation
Conversion requires no medical underwriting, so a person who has become uninsurable can still obtain permanent coverage. The premium for the new policy is based on the age at conversion (or original age if elected, with adjustment).
More questions: Life: Types of Policies
- 1018Which annuity pays benefits beginning one year or less after a single lump sum purchase?
- 1019An annuity owner is in the accumulation period. This means the
- 1020Which annuity option provides income for as long as the annuitant lives, with nothing paid to a beneficiary after death?
- 1021A life annuity with a 10-year period certain pays the annuitant for life. If the annuitant dies in year 4, the
- 1022Which annuity credits interest at a rate guaranteed by the insurer, with the insurer bearing the investment risk?
- 1023In a deferred annuity, annuity units are used in which kind of contract during the payout phase?