2024 FLORIDA LIFE HEALTH AND ANNUITIES 2- 15 450 Q
2024 FLORIDA LIFE HEALTH AND ANNUITIES 2- 15 450 Q
2024 FLORIDA LIFE HEALTH AND ANNUITIES 2- 15 450 Q
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2024 FLORIDA LIFE HEALTH AND ANNUITIES 2- 15 450 QUESTIONS AND CORRECT DETAILED ANSWERS UPDATE ALREADY A GRADED|NEW!!
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2024 FLORIDA LIFE HEALTH AND ANNUITIES 2- 15 450 Q
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2024 FLORIDA LIFE HEALTH AND ANNUITIES 2- 15 450 Q
2024 FLORIDA LIFE HEALTH AND ANNUITIES 2-
15 450 QUESTIONS AND CORRECT DETAILED
ANSWERS UPDATE ALREADY A
GRADED|NEW!!
Accidental death benefit rider - CORRECT ANSWERTwice (or three times) the
benefit will be paid if the insured dies in an accident
Accidental dismemberment - CORRECT ANSWER...
2024 FLORIDA LIFE HEALTH AND ANNUITIES 2- 15 450 Q
2024 FLORIDA LIFE HEALTH AND ANNUITIES 2- 15 450 Q
2024 FLORIDA LIFE HEALTH AND ANNUITIES 2- 15 450 Q
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2024 FLORIDA LIFE HEALTH AND ANNUITIES 2-
15 450 QUESTIONS AND CORRECT DETAILED
ANSWERS 2023-2024 UPDATE ALREADY A
GRADED|NEW!!
Accidental death benefit rider - CORRECT ANSWER✔✔Twice (or three times) the
benefit will be paid if the insured dies in an accident
Accidental dismemberment - CORRECT ANSWER✔✔Loss of a body part-state test
actual loss not just loss of use
Accidental means provision - CORRECT ANSWER✔✔Benefit only paid when the
insured was not in control of the accident
Accidental results provision - CORRECT ANSWER✔✔Benefit paid when accident
occurred because of any means; it just happened!
Accident and health insurance - CORRECT ANSWER✔✔Coverage for an insured
disabled by accident or illness
Accumulation unit - CORRECT ANSWER✔✔Purchased by premiums paid into
variable annuity during the annuitants working years
Acute illness - CORRECT ANSWER✔✔The one category of serious illness where the
patient can fully recover
Adhesion - CORRECT ANSWER✔✔Where all specifications of forms, brochures, and
contracts are pre-approved by the state
Adjustable life insurance - CORRECT ANSWER✔✔A combination term and whole life
policy where it is easy to change various factors
Administration services only (ASO) - CORRECT ANSWER✔✔Insurance company
insists only with the paperwork for self-insureds
Admitted insurer - CORRECT ANSWER✔✔Company approved, authorized, admitted,
certified to do business in the state
Adult daycare - CORRECT ANSWER✔✔Where Alzheimers or similar patients can be
monitored and receive care during the day
,Adverse selection - CORRECT ANSWER✔✔poor choices made by an underwriter
when selecting risks
Advertising code - CORRECT ANSWER✔✔What's ok and what's NOT okay in
advertising... found inside the Unfair Trade Practices Act
Agency - CORRECT ANSWER✔✔An office established for the purpose of selling
insurance within the state
ZoomWords - CORRECT ANSWER✔✔A list of the important terms to be understood in
preparing for the insurance exams
Yearly Renewable Term Insurance (YRT) - CORRECT ANSWER✔✔The same as
annually renewable term (ARTs)
Absolute assignment - CORRECT ANSWER✔✔Ownership is assigned to another
person permanently unless intentionally returned
Accelerated benefits rider - CORRECT ANSWER✔✔Providing death benefits ahead of
time of death when insured is terminally ill
Acceptance - CORRECT ANSWER✔✔Offer has been made and accepted by the
company, or by the client if counter-offer was made
Accidental bodily injury provision - CORRECT ANSWER✔✔Benefits payable when
injured by accidental means
Accidental death and dismemberment - CORRECT ANSWER✔✔A plan specifically for
accidental death or loss of body parts
Agent - CORRECT ANSWER✔✔Any licensed person who solicits insurance on behalf
of an insurance company
Agent's report - CORRECT ANSWER✔✔Part 3 of the application where the agent
enters his/her comments regarding the transaction
Aleatory - CORRECT ANSWER✔✔A chance/risk for both of the parties. It never works
out to be equal
Alien insurer - CORRECT ANSWER✔✔Insurance company is located outside the USA
Ambulatory surgery - CORRECT ANSWER✔✔A neighborhood clinic commonly less
expensive than the costs from a hospital
,American agency system - CORRECT ANSWER✔✔the same as the independent
agency system
Annually renewable term (ART) - CORRECT ANSWER✔✔A term policy where the
premium gradually increases annually by age
Annuitant - CORRECT ANSWER✔✔The owner of an annuity
Annuity - CORRECT ANSWER✔✔A savings product created for the purpose of a
lifetime income - liquidating a sum of money
Annuity units - CORRECT ANSWER✔✔The calculated value of the payout portion of
the contract in a variable annuity
Any occupation - CORRECT ANSWER✔✔The category of work where the insured is
able to perform some/any occupation
Apparent authority - CORRECT ANSWER✔✔Based on what the company has
provided to their agents -they can use the material
Application - CORRECT ANSWER✔✔Used to ask questions to provide underwriters
with a means of determining data and risks
Appointment - CORRECT ANSWER✔✔A licensed agent must also be appointed by
their company in order to sell insurance
Approval receipt - CORRECT ANSWER✔✔A conditional receipt, which becomes
effective only when approved by the insurer
Assessment mutual insurer - CORRECT ANSWER✔✔An insurer, which assesses
other policyholders when a claim occurs
Assignment - CORRECT ANSWER✔✔A policy can be assigned to a different owner
without approval from beneficiaries or the insurer
Attained age - CORRECT ANSWER✔✔When converting from a term to whole life
policy and using the current age reached
Authority - CORRECT ANSWER✔✔Agent receives expressed (written), implied
(business), apparent (what the company has provided)
Authorized company - CORRECT ANSWER✔✔see admitted company
, Automatic premium loan provision - CORRECT ANSWER✔✔Premium received from
cash value of a policy when client can't be found
Average indexed monthly earnings (AIME) - CORRECT ANSWER✔✔Used in the
calculation of the Social Security PIA
Average monthly wage (AMW) - CORRECT ANSWER✔✔Used in calculating the AIME
above enroute to obtaining the PIA
Aviation exclusion - CORRECT ANSWER✔✔Excluding the client from coverage while
flying if the client is not a fare paying passenger (pilot)
Backdating - CORRECT ANSWER✔✔Using an earlier birth date as the policy effective
date to save age - backwards up to 6months
Basic medical expense policy - CORRECT ANSWER✔✔Medical coverage known as
first dollar - hospital, surgeon, non-surgeon,
Beneficiary - CORRECT ANSWER✔✔The person or persons receiving a benefit from
the policy
Benefit - CORRECT ANSWER✔✔The amount determined ahead of time to
compensate, or covering for a loss to the insured
Benefit period - CORRECT ANSWER✔✔The maximum amount of time that policy
benefits will be paid
Best's dating - CORRECT ANSWER✔✔One of the rating companies who rate the
insurance industry regarding strength and stability
Binding receipt - CORRECT ANSWER✔✔Conditionally coverage valid until the
company declines the insured, or until policy is issued
Blackout period - CORRECT ANSWER✔✔From the time the youngest child own the
family turns 16 until the spouse turns 60
Blanket policy - CORRECT ANSWER✔✔An umbrella type of policy covering a group in
motion - transportation company/public event
Broker - CORRECT ANSWER✔✔An independent insurance agent who represents the
client and arranges coverage with a company
Burial plan - CORRECT ANSWER✔✔The same as debit policies, industrial insurance,
and home service insurance; see home service
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