Which of the Following Best Describes Credit Life Insurance

Is a tool to reduce your risks. A mutual fund and an endowment policy b.

Credit Life Insurance

Depending on the chosen program you can partially or completely protect yourself from unforeseen expenses.

. An insured purchased a Life Insurance policy. The insured pays a. DThe amount of insurance.

Which of the following best describes term life insuranceA. This insurance is often written in connection with automobile loans. Make up outstanding balance after the foreclosure sale.

D The customer must be notified if adverse action is taken as a result of a report. Based on those very simplistic explanations the best reason for purchasing life insurance rather than annuities would be to provide for your loved ones if you do not have much saved up. The experience rating helps an insurance company determine the likelihood that a particular policyholder will file a claim.

In the modern era of credit and debt-driven life credit life insurance is one. The agent told him that depending upon the companys investments and expense factors the cash values could change from those shown in the policy at issue time. Employee contributions to a pension fund.

A flexible premium deposit fund and a monthly renewable term insurance policy. The insured pays the premium until his or her death. Which of the following best describes term life insurance.

A Married couple purchases a life insurance policy on their newborn baby. Which of the following best describes credit life insurance. Provides information about the applicants lifestyle.

1 0 1 this answer. Pets best insurance form. The insured can borrow or collect the cash value of the policy.

Credit life insurance is an insurance policy specifically designed to pay off a loan in the case of an untimely death. The insured pays a premium for a specified number of years. A term insurance policy and a whole life policy c.

The insured pays the premium until his or her death. The face amount of the coverage declines as a loan amount gets reduced by the borrowers payments. The flow of funds from saving to investment through direct financing involves.

Provides information about the applicants financial stability. Which of the following best describes annually renewable term insurance is a tool to reduce your risks. Group credit life insurance does not build cash values.

With respect to credit reports which of the following best describes the purpose in obtaining an inspection report on an applicant for an insurance policy. Which of the following best describes the financial approach that provides a visual representation of how a client distributes resources. The insured was severely injured in an auto accident and after 10 weeks of hospitalization died from the injuries.

A modified endowment policy and an annual term insurance policy d. An insured purchased a 15-level term life insurance policy with a face amount of 100000. Which of the following best describes term life insurance.

Answered on July 13 2014 4. CThe type of insurance. The insured is covered during his or her entire lifetime.

Credit life insurance is typically issued with which of the following types of coverage. The insured can borrow or collect the cash value of the policy. Borrowing from a friend or relative.

Which of the following BEST describes a double indemnity provision in travel accident insurance. Benefits are doubled under certain circumstances stated in the policy b. Depositing in a credit union.

It applies to credit reports ordered in connection with insurance banking and employment. Posted by mornight5675 November 5 2020 Posted in Uncategorized. The insured is covered during his or her entire lifetime.

In a group life insurance policy the employer may select all of the following EXCEPT AThe premium payor. Group credit insurance must have a suicide clause and a misstatement of age clause. View more answers by.

The insured is covered during his or her entire lifetimeB. A make up outstanding balance prior to the foreclosure sale b make up outstanding balance after the foreclosure sale c receive a moratorium on payments d be released of all payments. Which of the following combinations best describe a universal life insurance policy.

Which of the following best describes the coverage that he would receive. A statutory period of redemption gives the borrower the opportunity to. Depending on the chosen program you can partially or completely protect yourself from unforeseen expenses.

Credit life insurance may be written on either and individual or group basis. Which of the following best describes the two faces of debt concept. Fill in your details below or click an icon to log in.

And if the accident insurance event occurs the insurance company will bear all or all of the costs in full or in part. Leave a Reply Cancel reply. It covers the loan not the individual so you shouldnt worry.

Provides information about the applicants character. Credit Life Insurance Benefits No Exam Insurance. Enter your comment here.

All of the following statement regarding credit life insurance are true except. In this sense the past loss experience of. The policy contained an accidental death rider offering a double indemnity benefit.

Credit life insurance is typically issued with which of the following types of coverage. Adjustable life insurance is a hybrid of term life and whole life insurance that allows policyholders the option to adjust policy features including the period of. Credit life insurance is normally issued at a decreasing term D.

If the claim is disputed in court and the insurer loses the face amount will. The insured pays the premium until his or her deathC. Credit insurance is a special type of coverage written to insure the life of the debtor and pay off the balance of a loan in the event of the death of the debtor.

The policy is aan 1. One of the benefits of credit life insurance is that it requires no medical exam at all. Previous Post Previous post.

The insured pays a premium for a specified number of years.

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