Arkansas Life and Health Insurance Practice Exam

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Prepare for the Arkansas Life and Health Insurance Exam with our comprehensive quiz featuring multiple-choice questions and detailed explanations. Gain the knowledge and confidence you need to succeed on your test!

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A partial withdrawal is permitted on which of the following policies?

Group Life
Term Life
Universal Life
Whole Life

The correct answer is: Group Life

A partial withdrawal is permitted on Group Life policies. Group Life insurance is typically provided through an employer or an organization for its members or employees. Policyholders of Group Life insurance policies are often permitted to make partial withdrawals from the policy under certain circumstances. Term Life insurance usually does not have a cash value and does not allow for partial withdrawals. Universal Life and Whole Life insurance policies may allow for policy loans or withdrawals, but the specific terms can vary. However, Group Life insurance is the most likely option where partial withdrawals are permitted.