XCel Test Life and Health Q&A Latest Update

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XCel Test Life & Health | Q&A Latest Update 2025/2026 | 100% PASS A policy that becomes a Modified Endowment Contract (MEC): - Answer -will loose many of its tax advantages All of these are characteristics of an Adjustable Life policy, EXCEPT: Answer -face amount can be adjusted using policy dividends The most important factor to consider when determining whether to convert term insurance at the insured's attained age or the insured's original age is: - Answer -the cost F needs life insurance that provides coverage for only a limited amount of time with a death benefit that changes regularly according to a schedule. What kind of policy is needed? - Answer -Decreasing term policy Under a Renewable Term policy, - Answer -the renewal premium is calculated on the basis of the insured's attained age A potential client, age 40, would like to purchase a Whole Life policy that will accumulate cash value at a faster rate in the early years of the policy. Which of these statements made by the producer would be correct? - Answer -20-Pay Life accumulates cash value faster than Straight Life Which of these statements describe a Modified Endowment Contract (MEC)? - Answer -Falls below the minimum amount of premium that