What does the guaranteed insurability option allow an insured to do?
A) Transfer ownership of the policy
B) Purchase additional coverage with no evidence of insurability required
C) Provides for the early payment of some portion of the policy face amount should be insured suffer from a terminal illness
D) Allows the insured to convert a term life policy to whole life with no evidence of insurability
Ans: B) Purchase additional coverage with no evidence of insurability required
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The basic form of an account.
What will be an ideal response?
An agent may do all of the following to comply with disclosure notification rules EXCEPT
A) provide a copy of the information disclosure procedures form to the state Department of Insurance B) notify the applicant of the insurer's information disclosure procedures with a written form C) answer any questions the applicant may have regarding the insurer's information gathering and dissemination practices D) obtain the applicant's signature on the disclosure form authorizing the insurer to gather and disseminate information"