X + V 663340_1/cl/outline CUMPICLEU ore 2.5 out of 5 points ed 29 minutes out of 30 minutes 10 ques/30 min tion 1 0 out of 0.5 points Thomas and Gina are married with a son, David, age 19. To protect their family, they wish to purchase a life insurance policy. After an insurance discussion and analysis, you recommend a structure where Gina is the owner of a permanent life insurance policy such that, if Thomas dies, the insurance proceeds are paid to Gina, and if Gina dies, the insurance proceeds are paid to Thomas. Which of the following describes this policy structure? stion 2 0 out of 0.5 points Four years ago, Delores met with her life agent, John. While completing the insurance application, Delores said that she was 63, when in fact, she was 68. The insurance company will not insure people who are over age 70. The application was approved as applied and the insurer issued a $100,000 whole life policy to Delores. Earlier this year, Delores suffered a heart attack and died. When Delores's beneficiary filed a claim, the insurer discovered her true age. What will be the outcome of the beneficiary's claim stion 3 0.5 out of 0.5 points What type of group insurance provides life insurance that can be purchased in addition to the basic group coverage? estion 4 0.5 out of 0.5 points Jill has a universal life insurance policy with a level face option and her estate named as beneficiary. The annual premium is $1, 100 and Jill contributes $1,500, with the additional contributions directed towards an equity fund within the contract, Some of the following are expected to increase if Jill's equity fund performs better than expected. I- Death benefit. II- Cash surrender value, Ill- Policy loan potential, IV- Mortality cost.Content X + /ultra/courses/_663340_1/cl/outline Question 5 0 out of 0.5 points Marge bought a $300,000 term insurance policy on the life of her husband, Watson. She is worried about what might happen if she becomes disabled while the policy is in force. Which rider(s) would be most appropriate for Marge? Question 6 0 out of 0.5 points In order to ensure a tax-free death benefit and protection from creditors, what should a policy owner not do when applying for insurance? Question 7 0 out of 0.5 points The Celestial Life Insurance Company issued a policy on Kaleb's life at standard rates. Eighteen months after the policy was issued, the insurance company discovered that Kaleb had rheumatic fever as a child (considered as a material fact). Kaleb was unaware that he had suffered from this as a young child which is why he did not disclose it on the insurance application. What will the insurance company likely do? Question 8 0.5 out of 0.5 points Barbara is considering naming her 12-year-old daughter Vanessa as the beneficiary of her life insurance policy. To assist Barbara with this decision, her friend has compiled the following list of issues that Barbara should consider. Identify the statements that are true. 1-Barbara can arrange for the appointment of a trustee to assume immediate control of the insurance proceeds on Vanessa's behalf, if Barbara dies while Vanessa is a minor. 2-Because the policy is purchased while Vanessa is a minor, Vanessa will never be in a position to provide a valid discharge to the insurance company when Barbara dies. 3-If Vanessa is named as a beneficiary and Barbara dies while Vanessa is a minor, it is likely that Vanessa will obtain the full proceeds upon reaching the age of majority. 4-A minor cannot be named as a beneficiary on a life insurance policy. Question 9 0.5 out of 0.5 points Group life insurance is available as all of the following except Question 10 ENG 3:09 PM