Kentucky Life Insurance State Exam Practice | 100 Questions with 100% Correct Answers

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The premiums paid by an employer for his employee's group life insurance are usually considered to be - ✔✔Tax-deductible to the employer Which of these is NOT considered to be a cost connected w... ith an individual's death? - ✔✔Business expenses These are all accurate statements regarding universal life insurance EXCEPT - ✔✔Policy loans are not permitted Which of these is NOT relevant when determining the amount of personal life insurance needed? - ✔✔Local unemployment rate Who elects the governing body of a mutual insurance company? - ✔✔Policyholders Why would evidence of insurability be required for a person insured with a variable universal life policy? - ✔✔The face amount is increased At what point are death proceeds paid in a joint life policy? - ✔✔When the first insured dies What is considered a valid reason for small businesses to insure the lives of its major shareholders? - ✔✔Fund a buy-sell agreement Which action will trigger a penalty tax on premature distributions from a modified endowment contract (MEC)? [Show More]

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