Life Insurance Policies
What does a life paid-up at sixty-five policy provide?
Answer and explanation
Answer: C. The stated age fixes when payments stop, not when protection stops, so the policy is paid up at sixty-five and continues to the maturity age. Cover ending at a set age is term insurance or an endowment.Source: PSI — New York DFS Insurance Candidate Information Bulletin — Outline, paid-up at a stated age
More life insurance policies questions
- Why is the premium for a $1,000,000 survivorship life policy lower than for a $1,000,000 joint first-to-die policy on the same two lives?
- Within what period must a member apply to convert group life insurance to an individual policy in New York?
- A 20-year term policy allows conversion only during its first 12 years. What happens to the conversion privilege after year 12?
- A 20-year term policy permits conversion only during its first 12 years. Which statement correctly describes the feature?
- A client has a lump sum from an inheritance and wants to leave the largest possible sum to heirs, with no further payments.
- A client holds employer-provided level term cover and asks whether personal term insurance is still needed.
621 New York questions like this one.
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