Life Insurance Basics
What is life insurance used for in estate conservation?
Answer and explanation
Answer: D. Conservation keeps the estate intact by supplying the liquidity to meet death taxes, debts and administration costs. Building an estate that does not yet exist is estate creation, and insurance does not by itself remove assets or delay settlement.Source: PSI — New York DFS Insurance Candidate Information Bulletin — Outline, estate conservation
More life insurance basics questions
- How may a New York policyholder learn what the guaranty corporation protects?
- How may an insurer use a Medical Information Bureau record in underwriting an application?
- How must a producer handle a premium collected from an applicant?
- If an insurer's expected investment return rises, what happens to the premium, other things being equal?
- In a corporate key-person life insurance arrangement, who is the policyowner, premium payor, and beneficiary?
- May a New York producer point to the Life Insurance Company Guaranty Corporation as a reason to buy?
621 New York questions like this one.
Every answer explained, the ones you miss come back on a spaced schedule, and a plan built from your exam date.