All of the following actions constitute a policy replacement EXCEPT:

A) surrendering an existing permanent life policy for its cash value so it can be used to purchase another life policy.

B) changing dividend options from paid-up additions to cash payment on an existing whole life policy.

C) electing an extended term nonforfeiture option on an existing permanent life policy.

D) electing a reduced paid-up nonforfeiture option on an existing whole life policy.

Answer: B) changing dividend options from paid-up additions to cash payment on an existing whole life policy.

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A securities license is required for a life insurance producer to sell
Which of the following statements about accumulated interest earned on dividends from an insurance policy is TRUE?
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All of the following are true regarding a decreasing term policy EXCEPT
Purchasing a life insurance policy in order to avoid the forced sale of assets upon death is called
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Another name for a substandard risk classification is
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Life income joint and survivor settlement option guarantees
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What is the purpose of establishing the target premium for a universal life policy?
What is the other term for the cash payment settlement option?
Circulating deceptive sales material to the public is what type of Unfair Trade Practice?
Insurance represents the process of risk
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What is the purpose of establishing the target premium for a universal life policy?
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