NC Life insurance state exam study guideline (2022/2023) already graded A+

Document Content and Description Below

NC Life insurance state exam study guideline (2022/2023) already graded A+ Term Insurance ✔✔Used for Temporary Situations. Net cost highest in the long run. Premiums goes up every year based on... current (attained)age. Term Insurance ✔✔Expire's at a certain age/Time in the future. May be renewable up to a certain age or date with out a phyical Exam. Level Term Insurance ✔✔Term insurance can be Renewed annually. Has a level Face Amount at renewal, Premiums goes up. Can be purchased for a Year or as often as 5, 10, 15, to 20 years inclements with average premium. Premiums and Face Amounts are "Level" for a period of "Time". Decreasing Term Insurance ✔✔It is NOT Annual Renewable term. Face Amount goes down, while Premiums remain the same. Decreasing Term insurance is often used as a mortage redemption. Can be converted to Whole Life, regardless of health. Premiums stays the same. Costs increases as Face Amount decreases, by expiration the Face Amount is Zero. Increasing Term Insurance ✔✔Term is added as a rider to Whole Life policies, at an extra cost. Face Amount goes up. It Allows beneficiary to recieve Face Amount plus Premiums or Cash Value. Renewability ✔✔Most Term Is renewable up to a certain a [Show More]

Last updated: 1 year ago

Preview 1 out of 34 pages