John, who had a life insurance policy with a death benefit, died on August 31st, after a long bought with cancer. He had been hospitalized for a month before his death. His wife contacted the insurance company to file her claim for the death benefit on September 5th, after John’s burial, and after she had time to collect her emotions to deal with her personal loss. The insurance agent filed the papers to process the claim with his supervisor, and the death benefit was settled on October 30th. Were any laws violated in this scenario?
a. No, the agent filed the paperwork within 30 days of the claim.
b. Yes, the claim was not settled within 30 days of the claim.
c. No, there are suspicions around the death of John.
d. Yes, the claim was not settled within 15 days of the claim.
Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code "Newclient"
Like this:
Like Loading...
Corporate owned life insurance proceeds may be used for the following purposes: I. To find, replace, and train a new employee or executive II. To fund other corporate debt obligations III. To redeem the deceased employee’s stock.
a. III only
b. I and III only
c. All of the above
d. None of the above
Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code "Newclient"
Like this:
Like Loading...
Term life insurance should always be used in buy / sell agreements.
True
False
Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code "Newclient"
Like this:
Like Loading...
Which of the following policies combines investment choices with a form of Term coverage?
Limited-Pay Life
Variable Universal Life
Universal Life
Adjustable Life
Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code "Newclient"
Like this:
Like Loading...
