Connecticut Life Insurance Exam / Verified Questions with Correct Answers.Terms in this set (122) What is the purpose of the Connecticut Life and Health Insurance Guaranty Association?Protects policyowners against insolvent insurance companies
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If an employer decides to cancel a group life insurance plan, it must give at least --- days notice to the employees prior to the date of cancellation or discontinuation.153 multiple choice options Rebating is an illegal practice in Connecticut
G purchased a Family Income policy at age 40.The policy has a 20-year rider period. If G were to die at age 50, how long would G's family receive income?10 years3 multiple choice options 1 / 3
Which provision prevents an insurer from changing the terms of the contract with the policyowner by referring to documents not found within the policy itself?Entire Contract provision
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A statement made by an insured in an insurance application that must be true to the best of one's knowledge and which becomes a part of the contract is known as a representation
An underwriter determines that an applicant's risk should be recategorized due to a health issue. This policy may be issued with a(n) extra premium
Which of these is an element of a Variable Life policy?A fixed, level premium
All of these Settlement options involve the systematic liquidation of the death proceeds in the event of the insured's death EXCEPT Interest only
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