Which of the following statements pertaining to the insuring clause in a life insurance policy is NOT correct?

A) It specifies the length of the grace period.

B) It defines the responsibilities of the insurer.

C) It names the beneficiary.

D) It gives the effective date of coverage.

Answer: It specifies the length of the grace period.

Insurance

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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?

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What is the purpose of establishing the target premium for a universal life policy?
A domestic insurer issuing variable contracts must establish one or more
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A securities license is required for a life insurance producer to sell
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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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All of the following would be different between qualified and nonqualified retirement plans EXCEPT
The paid-up addition option uses the dividend
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The paid-up addition option uses the dividend
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