SAMPLE Life, Accident & Health Online Practice Exam Simulator

Question: What is the legal determining factor for the maximum amount of life insurance one spouse can purchase on the life of the other?   Many factors determine the amount of insurance that is appropriate, but there is no statutory limit. The practical limit is the maximum amount the policyowner can afford and the insurer will issue, based on its underwriting criteria. Answer Choices: Select the Correct Answer The insured spouse's human life value. The amount necessary to pay final expenses and taxes. There is no legal limit. The statutory limit established by state law.

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