Life insurance gives - Study guides, Class notes & Summaries

FLORIDA INSURANCE 2-14 EXAM TERMS QUESTIONS AND ANSWERS (100% SCORES) Insurance - CORRECT ANSWER-Financial protection against loss or harm - An arrangement by which company gives customers financial protection against loss or harm such as theft or illness in return for premium payments. Life Insurance - CORRECT ANSWER-Is based on actuarial or mathematical principles and guarantees a specified sum of money upon the death of the person who is insured. Annuities - CORRECT ANSWER-Provid...

Florida 2-15 Insurance License Exam-Actual Exam Questions and Answers, 100% Verified-Updated 2023/2024 Florida 2-15 Insurance License Exam-Actual Exam Questions and Answers, 100% Verified-Updated 2023/2024 Accumulation units are converted into annuity units: at the time of annuity payout. A group life insurance plan in which the employer pays the entire premium is known as a ________________ plan. noncontributory If a disabled worker covered under Social Security disability benefits ...

Benefits that have been exempted from income taxation by law to encourage employers to provide these benefits the their employees, such as medical insurance, disability and group-term life insurance. - Answer-Statutory Fringe Benefits Tests that measure a person's judgment in work settings. - Answer-Situational Judgment Tests A management theory stating that different situations call for different leadership styles and that essentially there is no one best way to lead. - Answer-Situational...

Life-Only Agent Exam 1 Questions and Answers 100% Pass AN example of a moral hazard in relation to a life insurance application would be: - Answer ️️ -Misstating your health history to an insurance company. John applies for a variable annuity and does not request that the premiums be immediately invested in a stock or bond portfolio. After the annuity is issued, John returns the annuity contract to the insurer within the free look period. What will John receive from the insurer? - Ans...

Accumulation units are converted into annuity units: - Answer- at the time of annuity payout. A group life insurance plan in which the employer pays the entire premium is known as a ________________ plan. - Answer- noncontributory If a disabled worker covered under Social Security disability benefits recovers and then is disabled again within five years, a new waiting period is required before benefits begin again. - Answer- FALSE Robert had an accident and qualified for Social Security...

Primerica Life Insurance 2023/ 2024 Updated Exam | (Questions and Verified Answers with Rationales) 100% Correct Q: which of the following insurers are owned by stockholders who have the usual rights of ownership, including the right of voting? A. Reciprocal B. Fraternal C. Stock D. Mutual Answer: C. Stock Only stock insurance companies are owned and controlled by stockholders Q: which of the following best describes the concept that the insured pays a small amount of prem...

Waiver of premium for disability benefit - A supplemental life insurance policy benefit under which the insurer promises to give up - to waive - its right to collect premiums that become due while the insured is totally disabled. Waiver of premium for payor benefit - A supplemental life insurance policy benefit under which the insurer agrees to waive its right to collect a policy's renewal premiums if the policyowner dies or becomes totally disabled. Disability income benefit - A suppleme...

Consider the statement, "all sick people should see a doctor. An elderly man is ill". therefore the man A. Should see a doctor B. Should see a doctor if he does not get well C. Is like most ill people D. May not get well unless he sees a doctor (Ans- A. Should see a doctor 2.A science student is watching a television debate on the genetic cloning of animals. In order for the student to make a reasoned decision, the student must first A. Justify the opinions presented in the telev...

According to Mandatory Uniform Policy Provisions, what is the maximum amount of time after the premium due date during which the policy remains in force even though the premium has not been paid? - 31 days G purchased a Family Income policy at age 40. The policy has a 20-year rider period. If G were to die at age 50, how long would G's family receive an income? - 10 years E and F are business partners. Each takes out a $500,000 life insurance policy on the other, naming himself as primary...

XCEL FINAL STUDY LOUISIANA LHA INSURANCE EXAM QUESTIONS & ANSWERS 2023/2024 Under group health insurance, a certificate of coverage is issued to the - ANSWER-employee Which of the following actions may an insurance company NOT do in a health policy that contains a guaranteed renewable premium benefit? - ANSWER-Increase the premiums on an individual basis A payment system for health care in which the provider is paid for each service given is called - ANSWER-fee-for-service The free l...