Which term refers to the insured's age at renewal or replacement?

Unlock all questions

This demo includes only 20 questions. Upgrade to access hundreds of questions, flashcards, exam simulations, and disable ads.

Full question bankExam simulationsFlashcards
From $9.99Unlock all

Prepare for the Primerica Pre-licensing Exam with multiple-choice questions and comprehensive explanations. Perfect your skills and get exam ready!

Multiple Choice

Which term refers to the insured's age at renewal or replacement?

Explanation:
Attained age is the insured's current age on the renewal date or at replacement. This age is used to set renewal premiums because aging changes the risk to the insurer over time. Age at issue refers to how old the insured was when the policy was first issued, which is different from the age used at renewal. Other terms like insured age or policy age aren’t the standard terms for describing age at renewal.

Attained age is the insured's current age on the renewal date or at replacement. This age is used to set renewal premiums because aging changes the risk to the insurer over time. Age at issue refers to how old the insured was when the policy was first issued, which is different from the age used at renewal. Other terms like insured age or policy age aren’t the standard terms for describing age at renewal.

More Multiple Choice Questions
Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy