All of the following are exempted from the replacement rule EXCEPT:

A) application to exercise contractual changes or privileges in existing policies.

B) individual life insurance policies.

C) group annuities.

D) credit life insurance.

Answer: individual life insurance policies.

Nebraska Law

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An insured's building has an actual cash value of $200,000, and he has insured the property for $120,000 with an 80% coinsurance clause. A $40,000 loss occurs. How much will the policy pay?

An insured's building has an actual cash value of $200,000, and he has insured the property for $120,000 with an 80% coinsurance clause. A $40,000 loss occurs. How much will the policy pay? a) $0 b) $30,000 c) $32,000 d) $40,000 Answer: B

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Purchasing a life insurance policy in order to avoid the forced sale of assets upon death is called
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What is the purpose of establishing the target premium for a universal life policy?
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