Which of the Following Is Not True Regarding Policy Loans

Policy loans can be repaid at death D. A policy loan may be repaid after the policy is surrendered 3.

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Money borrowed form the cash value is taxable.

. Combines term and permanent insurance into a single plan b. A Its purpose is to prevent a policy from lapsing because of nonpayment of premium. Policy contract terms dictate the interest rate d.

A Policy loans can be repaid at death. Which statement regarding an adjustable life insurance policy is NOT true. A The policy may be paid up.

C Policys cash value is not affected D Policy loans will no longer be available. Which of the following is NOT true regarding policy loans. Policy owners can borrow up to the full amount of their whole life policys cash value C.

Which of the following is NOT true regarding policy loans. Policy loans can be repaid at death. C Policys cash value is not affected.

D An automatic premium loan unlike a regular policy loan is forgiven if the insured dies before the loan is repaid. There are however some restrictions. Sometimes referred to as a life insurance loan.

Policyholders should be over the age of 75 and have a life expectancy that is shorter then 15 years. All of the following are TRUE statements regarding the accumulation at interest option EXCEPT. Money borrowed from the cash value is taxable C.

Which of these statements is NOT true regarding a cash value loan against a life insurance policy. Allows flexibility as insurance needs change c. The right to a policy loan applies to term and permanent insurance policies.

Money borrowed from the cash value is taxable 4. Plan of coverage may be changed by the policyowner d. The proposed makes the premium payment on a new insurance policy.

C If the provision is used the insured must show evidence of insurability to resume regular premium payments. A policy loan may be repaid after policy is surrendered B. B An insurer can charge interest on outstanding policy loans.

According to the authors which of the following is NOT true regarding globalization lessons for developing countries. Primerica Simulated Exam 4. All of the following statements regarding policy loans are true except.

The interest is not taxable since it remains inside the insurance policy. Review Later It is unnecessary to take security if the company has a good history with the financial institution Loan security protects the lenders claim against unforeseen and unfavorable events An analyst should aim to secure a loan with one of each type of loan security. Which of the following regarding contractionary policy is true.

2 Most Life Policies Can Be Sold. Past-due interest on a policy loan is added to the total debt. Which of the following is NOT true regarding policy loans.

Export oriented nations must diversify their market to include major emerging markets. Its premium steadily decreases over time in response to its growing cash value. Money borrowed from the cash value is taxable.

To maximize the effectiveness of the fraud risk assessment process the fraud riskassessment team should include both facts and opinions in its report. Past-due interest payments not paid after 3 months will void the policy Past-due interest on a policy loan is added to the total debt Insurance companies can send delinquent interest accounts to a collection agency Insurance companies can charge an interest rate based on the policyowners credit report. Policy loans can be repaid at any time including.

Money borrowed from the cash value is not taxable. All of the following are true regarding the interest owed by the insurance company on life insurance proceeds EXCEPT. Which of the following is NOT true regarding policy loans.

D Money borrowed from the cash value is taxable-Money borrowed from the cash value is not taxable. What is the tax consequence of amounts received from a Traditional IRA after the money was left in the tax deferred account by the beneficiary. Entices banks to make loans B.

One of the first steps in a fraud risk assessment involves identifying potential fraud risks inherent to the organization. C A policy loan may be repaid after the policy is surrendered. Loan cannot exceed the policys cash value c.

An insurer can charge interest on outstanding policy loans. The face value of the policy is paid to the insured at age 100. 8 Which of the following statements is TRUE regarding loan security.

Which of the following is NOT true regarding policy loans. Import oriented nations must switch to concentrate on domesticationb. The policy owner may never borrow more than the policy cash value.

In theory almost any kind of life insurance policy can be sold through a settlement including term life whole life universal life and more. A loan issued by an insurance company that uses the cash value of a persons life insurance policy as collateral. Which of the following statements is true.

An insurer can charge interest on outstanding policy loans 2. Policy loans are not permitted. An insurer can charge interest on outstanding policy loans.

Money borrowed from the cash value is taxable a 60-year-old participant in a 401k plan takes a distribution and rolls it. Pat owns a 20-pay life policy with a paid-up dividend option. Creates demand for goods and services through government expenditures CRaises interest rates DInfluenced by the multiplier effect Influenced by the multiplier effect.

The policy cash value serves as collateral for the loan. It has the lowest annual premium of the three types of Whole Life policies. All of the following are true regarding insurance policy loans EXCEPT A.

Policy loans can be made on the policies that do not accumulate was value. According to the authors which of the following is. Interest normally accuses on unpaid balances b.

C Money borrowed from the cash value is taxable. Which statement is NOT true regarding a Straight Life policy. A Interest of 8 is owed from date of death until the payment of proceeds B After 90 days have passed an additional 3 penalty is owed C Insurers may not subtract policy loans from the face amount owed.

The interest on a policy loan is usually paid annually. B Interest does not have to be paid on an automatic premium loan. The policy will terminate if the loan plus interest equal or exceeds the cash value of the policy B.

Which of the following regarding contractionary policy is true. D Policy loans can be repaid at death. Policy loans can be repaid at any time including surrender and death.

Policy loans can be repaid at death.

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