Life Agent exam topics

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• Joint-and-Survivor Annuity: 100%, 75%, or 50% ContinuationA joint-and-survivor annuity continues payments to a second covered person after the first person dies. A 100%, 75%, or 50% option generally describes…
• Key-Person Life Insurance: Owner, Premium, and BeneficiaryKey-person insurance protects a business against disruption after an essential person's death. The business commonly owns the policy, pays premiums, a…
• Life Insurance Applicant, Owner, Insured, and Beneficiary: Who Does What?The applicant requests coverage and completes the application; the owner controls policy rights; the insured is the person whose life is covered; and …
• Life Insurance Application Corrections After SigningAfter signing, an applicant who finds an error should promptly notify the agent and insurer and use the documented correction process. The carrier may…
• Life Insurance Application: Producer as Field UnderwriterA life insurance producer acts as a field underwriter by collecting complete application information, clarifying questions, observing relevant facts, …
• Life Insurance Application Signatures and Required StatementsApplication signatures depend on each person's role and the insurer's form. The applicant or owner signs as required; a different proposed insured gen…
• Life Insurance Beneficiary Change Form: When It Takes EffectA beneficiary change takes effect under the policy’s procedure, which may make it effective when the owner signs a request or only after the insurer r…
• Life Insurance Beneficiary Claim: Documents and VerificationA beneficiary usually submits the insurer’s claim form and proof of death, then provides identity, beneficiary, and payment information the insurer re…
• Life Insurance Beneficiary vs. Policy Owner: Who Controls Changes?The policyowner generally controls the contract, including the right to change a revocable beneficiary, subject to the policy, accepted forms, and app…
• Life Insurance Cash Value vs. Death Benefit at DeathCash value is an internal value in a permanent life policy that may be accessed by the owner through a loan, withdrawal, or surrender under contract t…