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Stranger & Investor Owned Life Insurance

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

With an IOLI, which of the following is a typical benefit amount for the life insurance policy?

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1. With investor-owned life insurance policies, who pays for the premiums?

2. What does 'STOLI' stand for?

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About This Quiz & Worksheet

This quiz will assess your understanding of STOLI and IOLI, which are types of insurance. To pass the quiz, you'll need to be familiar with insurable interest for STOLI and IOLI transactions, among related concepts.

Quiz & Worksheet Goals

Your knowledge of the following will be tested:

  • Typical benefit amount for an investor-owned life insurance (IOLI) policy
  • Who pays the premiums for investor-owned life insurance policies
  • What STOLI stands for
  • What became illegal in Illinois when the Viatical Settlement Act passed
  • Where insurable interest come from for STOLI and IOLI transactions

Skills Practiced

  • Knowledge application - use your knowledge to answer questions about STOLI and IOLI
  • Information recall - access the knowledge you've gained regarding the Viatical Settlement Act
  • Interpreting information - verify that you can read information about payment of premiums for investor-owned life insurance policies and interpret it correctly

Additional Learning

To gain an even deeper understanding of this subject, check out the related lesson titled Stranger & Investor Owned Life Insurance. Here are topics you'll find in this lesson:

  • Circumventing life insurance regulations
  • Lack of insurable interest
  • Upfront payment of life insurance
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