Life Insurance Basics
What is the position of the Life Insurance Company Guaranty Corporation of New York in a sales presentation?
Answer and explanation
Answer: C. The existence of the guaranty corporation is not permitted to be used as a selling point, precisely because it would encourage buyers to ignore an insurer's financial strength. The other statements would each amount to the prohibited use.Source: PSI — New York DFS Insurance Candidate Information Bulletin — Outline, guaranty corporation
More life insurance basics questions
- An applicant presents better than average health and habits. Into which class is she ordinarily placed?
- An estate consists chiefly of illiquid farmland facing settlement costs. Why is life insurance suited to conserving it?
- An estate consists largely of a family business and will face costs at death. How does life insurance serve estate conservation?
- An illustration shows a bonus credited in the twentieth policy year. When is that permitted?
- An insurer mails a policy to its producer for unconditional delivery to the owner. What is the significance of that?
- An owner paying annually dies four months into the policy year. What happens to the unearned part of that premium?
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