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Which of the following statements about individual disability income policies that use a two-part definition of total disability is (are) true?I.During the initial period of disability, the insured must be unable to perform the duties of any gainful occupation.II.After the initial period of disability, the insured must be unable to perform the duties of any occupation for which he or she is reasonably fitted by education, training, and experience.

Gary purchased a Personal Auto Policy (PAP) that included collision coverage. Gary lost control of his vehicle on an icy road. He slid across the center line into oncoming traffic. Another vehicle hit his car, causing severe damage to it. Ignoring any deductible, what is the insurer’s liability for damage to Gary’s car?

Which of the following statements about second-to-die life insurance is (are) true?I.The insurance is a form of endowment coverage. II. The premium is lower than the combined cost of purchasing a life insurance policy on each insured.

Which of the following statements about yearly renewable term insurance is (are) true?I.It requires evidence of insurability for renewal.II.It is most appropriate when an insured needs lifetime protection.

Ann is considering the purchase of a life insurance policy with these characteristics: flexible premium payments, the insurance and savings components are separate, the interest rate credited to the cash value is tied to a changing market interest rate but a minimum interest rate is guaranteed, and a monthly administrative fee is charged. Ann is considering buying

When using the needs approach, several “special needs” should be considered. One special need is money to cover unexpected events, such as major car repairs, dental bills, or home repairs. Money set aside for this purpose is called a(n)

A vehicle is considered a constructive total loss when

A legal reserve in life insurance is a result of

A legal reserve in life insurance is a result of

When using the needs approach, several “special needs” should be considered. One special need is money to cover unexpected events, such as major car repairs, dental bills, or home repairs. Money set aside for this purpose is called a(n)