Aflac insurance - Study guides, Class notes & Summaries

Uses of Life Insurance - -Insured pays premium to company and in return, company assumes risk of that person dying prematurely -premium (small certain loss) is exchanged for a large uncertain loss -spreading risk of premature death among a large group Life insurance has value like property: -valuable part of individuals estate, providing immediate cash to pay debts and financial security to insured's survivors -cash value of life insurance policy can be used as collateral to secure a loa...

Aflac Study Test Questions and Answers (100% Pass) which dividend option allows a policy owner to use his or her dividends to buy life insurance on a single premium basis? - Answer️️ -paid up additions option The Alabama Life and Disability Insurance Guaranty has the power to - Answer️️ -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. Paula has an insurance polic...

Accident Only coverage from Aflac may be appropriate for a customer because: - Benefits are designed to provide coverage throughout the different stages of care Benefits can complement coverage provided by primary major medical insurance Short-Term Disability coverage from Aflac may be appropriate for a customer because: - all of the above Accident Only coverage from Aflac is designed to provide: - Accidents only coverage for covered accidents Aflac's Accident Only coverage provides cove...

Aflac's Accident Only coverage includes coverage for accidents caused by or resulting from a covered person: - Breaking their arm after slipping on ice Accident Only coverage from Aflac may be appropriate for a customer because: - Benefits are designed to provide coverage throughout the different stages of care Benefits can complement coverage provided by primary major medical insurance Accident Only coverage from Aflac is designed to provide: - Accidents only coverage for covered acciden...

Aflac Insurance Exam Questions and Answers Making a statement that is false or maliciously critical of the financial condition of an insurer is known as - Answer️️ -defamation Which of the following statements regarding an examination of an insurer's books and records by the Commissioner is true? - An insurer has a right to delay an examination by the Commissioner for a period of not more than 15 days after notification -The insurer must not impede an examination and is required to a...

NC Aflac State Exam Study Guide with Complete Solutions What is the purpose of Disability Income Insurance? - Answer️️ -Provides income payments when the insured is unable to work because of sickness or injury What are the two major types of losses? - Answer️️ -1. Loss of Income (disability) 2. Hospital/Medical expenses How often does Disability Income policies pay out benefits? - Answer️️ - Provides weekly or monthly benefits to replace salary/wages lost while sick/injured...

Aflac Insurance Licensing Test- Key Concepts Practice Study Guide Insurance is defined as... - Answer️️ -the transfer of PURE risk to the insurance company in consideration for a premium Pure risk is... - Answer️️ -the chance of loss without any possibility for gain Speculative risk is... - Answer️️ -the possibility for gain or loss and is not insurable Risk is defined as... - Answer️️ -the chance for loss An exposure is... - Answer️️ -a condition that could result i...

South Carolina Aflac Sales Insurance Exam Questions With Solutions 100% Correct How many years is a producer REQUIRED to maintain transaction records of a policy? 5 Years Which of the following does restorative dental treatment cover? Crowns According to the Fair Credit Reporting Act, an insurer does NOT need to Report inconsistnesies How long can an insurer exclude coverage for a preexisting condition on a Medicare Supplement Policy? 6 Months Making a statement that is false or mali...

AFLAC UPDATED Exam Questions and CORRECT Answers Aflac's Understanding Insurance Fraud and Prohibited Practices guide includes _______________. - Ans Policy administration and claims administration prohibited practices Corrective actions and FAQs Fraud is an intentional act, omission or violation of trust designed to _____ others, resulting in the victim suffering a loss and/or the perpetrator achieving a gain. - Ans Deceive Prohibited Practices include acts that _______ the procedure...

Ethics Aflac UPDATED Exam Questions and CORRECT Answers Aflac's Understanding Insurance Fraud and Prohibited Practices guide includes _______________. - Ans Policy administration and claims administration prohibited practices and Corrective actions and FAQs Fraud is an intentional act, omission or violation of trust designed to _____ others, resulting in the victim suffering a loss and/or the perpetrator achieving a gain. - Ans deceive Prohibited Practices include acts that _______ t...