Aflac life 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...

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...

Exam 4 RMI 3567 Questions and Answers 100% Correct conventional insurance - Correct Answer ️️ -considered haram as it contractually contains haram elements: riba, gharar, maysir riba - Correct Answer ️️ -no equality between premiums paid and compensation received riba - Correct Answer ️️ -"interest" / usury gharar - Correct Answer ️️ -subject matter of the contract is not certain / uncertainty maysir - Correct Answer ️️ -Policyholders are held to be betting premiums ...

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...

Washington Life/Health Insurance Exam | 100% Verified with complete solution policy owner - usually, but not always the person covered by the policy beneficiary - the person who is paid when a claim is submitted agent/producer - acts as a legal representative of the insurance company broker - representative of the Insured, not the insurance company risk - The chance or uncertainty of loss Pure risk - the chance of experiencing a loss (without the possibility of gain). Only down...

PHR/SPHR Human Resources Exam 120 Questions with Verified Answers HR participates in the strategic planning process by which of the following? - CORRECT ANSWER C. Providing expertise Restructuring is used to do which of the following? - CORRECT ANSWER A. Remove redundant operations A statement that describes what an organization does that is different from others is a: - CORRECT ANSWER D. Mission statement Which of the following options is one characteristic of an organization during...

South Carolina Aflac Sales Insurance Exam Practice Questions and Answers Which of the following is illegal discrimination? - Answer️️ -Refusing an applicant because of marital status Under South Carolina law, what may the insurer REQUIRE to determine the exact cause of death if death appears accidental? - Answer️️ -Autopsy The free look period provided in a life insurance policy is usually - Answer️️ -10 Days Under the Affordable Care Act, which of these plans is designed to ...

Aflac Final Exam Practice Questions and Answers (100% Pass) Which of the following does specified disease insurance NOT cover? - Answer️️ -Costs covered by medical expense insurance Failure to report background changes within 30 days as required as required under section 1792.2 of the California insurance code could subject a license or applicant to - Answer️️ -All of these Premiums are best described as - Answer️️ -the amount an insured pays per unit of coverage Who is issu...

PHR/SPHR Human Resources Exam 120 Questions with Verified Answers HR participates in the strategic planning process by which of the following? - CORRECT ANSWER C. Providing expertise Restructuring is used to do which of the following? - CORRECT ANSWER A. Remove redundant operations A statement that describes what an organization does that is different from others is a: - CORRECT ANSWER D. Mission statement Which of the following options is one characteristic of an organization during...

Insurance - ANSWERSfinancial tool that protects individuals and organizations from unforeseen and extraordinary financial losses by transferring risk to another party insured - ANSWERSindividual or organization that pays premiums in exchange for protection insurer - ANSWERSCompany, group, or government agency offering financial protection insurance policy - ANSWERSA legally binding contract that defines the obligations of both the insured and the insurer. Principle of Indemnity - ANS...