to make a salle Information reported by an insured 57 The major difference between a mutual insurance company and a stock Insurance company is the a) Number of producers each is permitted to license b) Size of the cash reserves each is required to maintain c) Form of ownership each company is permitted 58 All of the following provisions must be included in group life insurance policies issued in the state EXCEPT: a) Nonforfeiture b) Payment of benefits c) Suicide d) Incontestable 59 Which of the following types of insurance policies is EXEMPT from the life insurance and Annuity replacement rule? a) Group life b) Convertible term life c) Ordinary whole life d) Universal life 60 All of the following elements must be included in a policy summary given to a purchaser of life insurance EXCEPT the: a) Names and addresses of each beneficiary b) Full name and address of the insurance company c) Generic names of the basic policy and each rider d) Name and address of the insurance producer