SCLAHIP South Carolina Life Accident and Health Insurance Producer Exam - Set 2 - Part 3
Test your knowledge of technical writing concepts with these practice questions. Each question includes detailed explanations to help you understand the correct answers.
Question 41: An insured and his wife, who is the primary beneficiary, are killed in the same boating accident, and no one can establish which of them died first. The policy names his adult son as contingent beneficiary. Which rule decides where the proceeds go?
Question 42: A policyowner has borrowed repeatedly against her permanent life policy and has stopped paying the loan interest, so the insurer keeps adding that unpaid interest to the outstanding debt. Which of the following will eventually happen to the contract?
Question 43: In one group life arrangement the employer pays the entire premium and no payroll deduction is taken from any worker. A new hire asks whether enrollment is optional once the waiting period ends. Which statement describes this type of plan?
Question 44: A widowed father wants his six-year-old daughter to receive his life insurance proceeds, but his producer warns that a minor is legally incompetent to take ownership of a large sum. Which arrangement lets the proceeds reach the child properly?
Question 45: A permanent policy credits interest to its cash value according to the movement of a stock market index, yet the contract promises that the rate credited will never fall below zero even in a losing year. Which type of coverage works this way?
Question 46: A bank makes auto loans and sponsors a plan covering its borrowers, with the amount of coverage on each borrower limited to what that person still owes and the bank named to receive the proceeds. Which coverage is this?
Question 47: A policyowner receives an annual payment from her insurer that the company describes as a refund of part of the premium she paid, an amount that shifts with the insurer's actual experience and is never guaranteed in advance. Which kind of policy does she own?
Question 48: A grandmother buys a whole life policy on her eight-year-old grandson and pays the premiums herself. She wants the billing to stop, without the policy lapsing, if she should die or become disabled before the boy turns twenty-one. Which rider does she need?
Question 49: A thirty-eight-year-old converts a term policy he bought at age thirty into whole life and chooses to have the new premium calculated on his age at the time of the exchange. Which conversion basis has he selected for the new policy?
Question 50: The first page of a life insurance policy carries a statement of the company's promise to pay the death benefit, naming the face amount payable and the party who will receive it, and it is signed by an authorized officer of the insurer. Which provision is described?
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