$10\mathrm{.}0\%$ complete

Question

All of the following statements concerning the Social Security system are correct EXCEPT

A$.$The Social Security retirement benefit is payable at normal retirement age with reduced benefits available as early as age $591/2,$ to anyone who has obtained at least a minimum amount of Social Security benefits.

B$.$Disability benefit recipients must have a severe physical or mental impairment that is expected to either prevent them from performing "substantial" work for at least a year, or result in death.

C$.$The family benefit is provided to certain family members of workers eligible for retirement or disability benefits.

D$.$Survivors benefits apply to those family members listed for family benefits, and may also include the worker's parents if the worker was their primary means of support.

When must an insurable interest exist for a life insurance policy?

A$.$both at the time of death and at the inception of the policy.

B$.$at the time the beneficiary is paid.

C$.$at the inception of the policy.

D$.$at the time of death.

What is the effect of an insurance policy being adhesive?

A$.$the insurer can refuse to pay claims unless the insured has complied with all policy provisions.

B$.$the insured cannot assign the policy without the insurer's consent.

C$.$the insurer can require the insured to pay any premiums.

D$.$the insured gets the benefit of the doubt if a policy contains any ambiguities or uncertainties.