INDIANA LIFE INSURANCE FINAL EXAM
2024 ALREADY GRADED A
Mary is receiving an annuity payout from her Variable Straight Life Annuity. Upon her
death, which of the following will be payable to her estate?
a. Nothing
b. The policy death benefit
c. The remaining value of her account
d. The total premiums paid into the account, less the amount paid to Mary in benefits -
A. Nothing
What is decreasing in a Decreasing Term policy?
a. The cash value
b. The premium
c. The face amount
d. The nonforfeiture values - The Face Amount
Endowment policies can mature in two ways. What are they?
a. The insured dies during the policy period or annuitizes the policy after age 59&1/2.
b. The insured dies during the policy period or reaches the endowment age as
designated in the policy.
c. The insured dies during the policy period or retires at age 59&1/2.
d. The insured dies or reaches age 100. - B. The insured dies during the policy period or
reaches the endowment age as designated in the policy.
Which of the following is NOT a characteristic of a Variable Annuity?
A. Premium Payments may be level or flexible or single premium
B. The cash values are invested in securities.
C. The non-forfeiture values will provide for the return of the cash value should the
annuitant die during the accumulation period.
D. It provides for a tax-free death benefit. - D. It provides for a tax-free death benefit.
All of the following policies provide for the tax deferred accumulation of cash value
EXCEPT:
A. Interest Sensitive Whole Life
B. Single Premium Variable Annuity
C. Variable Universal Life
D. Term Life - D. Term Life
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