Primerica Basics
What is the electronic application system Primerica uses for life insurance products?
TurboApps
Name one feature of Power Term.
No medical
What is the maximum coverage amount for Precision Term?
No max
Which state does NOT offer 35 year term?
New York
What does W.O.P stand for?
Waiver of premium
What is the youngest age someone can apply for a Primerica life insurance policy?
18
True or False: Power Term has no maximum coverage amount.
False
True or false: A precision term medical can be waived.
True
Other than Primerica, what other company name do we write life insurance under?
National Benefit Life
in New York
With the W.O.P., what percentage of the death benefit can be accelerated for terminal illness?
70%
What is the oldest age someone can apply for a Primerica life insurance policy?
70
What is the maximum coverage amount for Power Term?
$300k
What is the minimum coverage amount for Precision Term issue ages 51 and older?
a. $50,000
b. $25,000
c. $150,000
$50,000
What was precision term coverage originally called in NY?
Custom term
$50,000
What is the lowest monthly premium allowed on a Primerica life insurance policy?
$15
What is the minimum coverage amount for Power Term?
$15,000
What is the minimum coverage amount for Precision Term issue ages 18–45?
a. $50,000
b. $100,000
c. $150,000
$150,000
True or False: You can ONLY reinstate a policy in NY via a paper application.
True
At what percentage does the Increase benefit rider (IBR), increase each year?
10%
What is the maximum premium amount you receive production credit on?
$1,500
What was the name for Power Term in New York?
TermNow
What is the maximum coverage amount for precision term?
No Max
Yes or No: Can an agent write a policy for a resident of another state if the client is physically present in the agents licensed state at the time of the application?
Yes
How many years can you take advantage of the IBR, before it stops?
10