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Test your UL, ABC, and billing knowledge

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Sharon
Sharon
United States

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Test your UL, ABC, and billing knowledge

by Sharon
1

What does 'premium' mean in insurance terms?

2

Which plans require the exact premium amount due to strict billing?

3

What is the grace period for Term and Whole Life policies?

4

During a grace period, is the insured covered?

5

What is the grace period for Universal Life policies?

6

Which screen shows how long UL will last with no further payments?

7

What does MAXPAY F300 represent?

8

How often are Direct Pay premium notices mailed?

9

Which billing type sends monthly bills to the employer?

10

Can a tel‑debit be scheduled for a future date?

11

What payment types are accepted by tel‑debit?

12

Who may authorize a tel‑debit?

13

Salvage period: is how many months from the PTD to pay back premiums?

14

What form is required to stop premium notices?

15

Are annuity contributions required?

16

Which ABC draft day pays the current month’s premium?

17

Which ABC draft day pays one month ahead?

18

When must changes to an ABC 1st draft be made?

19

Where can you view for premium notices and ABC letters?

20

What are Direct Pay billing Modes?

Feedback

MAXPAY F300 relates to UL premium limits.

Salary Allotment is the employer-billed type.

We cannot hold tel-debits to draft on a specific date.

Tel‑debit accepts checking or savings accounts.

 
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