Arkansas Life and Health Insurance Practice Exam

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All of these are payment structure options, except:

  1. Annually

  2. Bi-annually

  3. Monthly

  4. Monthly Limit

The correct answer is: Annually

The correct answer is A. In the context of payment structure options, annually is a valid payment schedule in which the premium is paid once a year. Bi-annually means the premium is paid twice a year, while monthly means the premium is paid each month. However, "Monthly Limit" is not a payment structure option but could refer to a policy feature that sets a monthly cap on benefits or coverage.

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