Bob has an insurance policy that allows him to keep the policy in force until the next premium is due plus
30 days thereafter. Bob's policy: - Contains a grace period
Which of the following is an example of "non forfeiture value" - after a policy owner cancels
his/her permanent policy, the cash ...
Aflac Study Test
Bob has an insurance policy that allows him to keep the policy in force until the next premium is due plus
30 days thereafter. Bob's policy: - Contains a grace period
Which of the following is an example of "non forfeiture value" - after a policy owner cancels
his/her permanent policy, the cash value accumulation must be made available to the policyowners
Paula has an insurance policy that has a guaranteed minimum cash value, a guaranteed death benefit,
fixed premiums, and grows at a rate reflected by a selected fund index. Which type of life policy fits this
description? - Equity Indexed Life.
how frequently does a disability income policy typically pay benefits? - Monthly
Health Maintenance Organization and Preferred Organizations are both considered to be: -
Managed health care systems
When can a lapsed life insurance policy usually be reinstated? - 3-5 years after the policy lapses
Alabama's Annuity disclosure regulation: - requires the delivery of a buyer's guide and a
disclosure document to an annuity applicant
the option to convert term life insurance to a permanent form of coverage can normally be executed: -
without proof of insurability
An insured owns a policy which includes a disability income rider. the disability benefit amount paid to
the insured is based on the: - face amount of the policy
an insurance producers must have which of the following in order to sell variable life insurance policies?
- registered with FINRA, License for variable life and annuities contracts, a valid insurance license
Katherine is a retired and was recently hospitalized for 10 days. which type of insurance policy would
best cover her for excess hospital expenses? - Medicare Supplement
, Paul has major medical policy which begins with basic first dollar coverage that pays up to its limits, then
he must pay a certain amount of covered expenses before the major medical portion steps in. The dollar
amount Paul must pay is called the: - Corridor Deductible
a disability policy that must be renewed, can not be cancelled until age 65, and may not have an increase
in premium for any reason is called: - Noncancellable Policy
which dividend option allows a policy owner to use his or her dividends to buy life insurance on a single
premium basis? - paid up additions option
The Alabama Life and Disability Insurance Guaranty has the power to - Loan Money to an
insolvent insurance company, guarantee the obligations of an insurance company, and provide money to
satisfy the obligations of an insurance company.
an insurance company licensed to solicit insurance in a specific state is called: - an admitted
company
Long Term Care policies normally provide benefits for - home health care
Barbara has the right to change the beneficiary designation on her life insurance policy. Barbara's
beneficiary is a(n): - Revocable Beneficiary
Medicare Advantage (part C) allows the utilization of benefits through a(n): - HMO, PPO, or
traditional insurer
Rodney applies for an insurance policy and pays the first premium. The receipt given for the first
premium is called a(n): - conditional receipt
which statements concerning Alabama's life insurance solicitation regulations is true? - A life
Insurance illustration must contain info regarding the non-guaranteed elements of a policy over time, a
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