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FL Statutes, Rules, Regs Pertinent to Life/Annuity Insurance Including Variable Products Study Questions with Correct Answers 100% Verified $5.49   Add to cart
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FL Statutes, Rules, Regs Pertinent to Life/Annuity Insurance Including Variable Products Study Questions with Correct Answers 100% Verified
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FL Statutes, Rules, Regs Pertinent to Life/Annuity Insurance Including Variable Products Study Questions with Correct Answers 100% Verified Florida Replacement Rule - Correct Answer the requirements and procedures to be followed by insurance companies and insurance producers when a proposal is bei...

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  • July 24, 2024
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FL Statutes, Rules, Regs Pertinent to Life/Annuity Insurance
Including Variable Products Study Questions with Correct
Answers 100% Verified
Florida Replacement Rule - Correct Answer the requirements and procedures to be followed by insurance companies and insurance producers when a proposal is being made to a client who plans to replace existing life insurance contract(s) with the proposed new life insurance policy.
Buyer's Guide - Correct Answer A booklet that describes insurance policies and concepts, and provides general information to help an applicant make an informed decision.
Policy Summary - Correct Answer a written statement describing the features and elements of the policy being issued
Policy Conversion - Correct Answer Conversion of insurance policy is the surrender of a
life insurance policy to the insurer in exchange for another policy pursuant to a right or privilege provided the insured in the original policy. A conversion insurance policy must provide benefits equal to those provided under the original group insurance policy.
Policy Assignment - Correct Answer Anyone to whom the policy is transferred receives full benefits of policy ownership through a process. The policyowner may assign a part of the policy or the entire policy.
Lapse Notice - Correct Answer - Must be sent to the policy owner at the end of the required grace period
- The notice must inform the insured that they have an additional 21 days in which to prevent the policy from lapse because of nonpayment
- If the policy provides a grace period of more than 51 days, the lapse notice must be mailed at least 21 days before expiration of the grace period provided in the policy
Group Life Insurance - Correct Answer provides lower rates for the employer or employee and includes all employees, including new employees, regardless of health or
physical condition
Annuity Suitability - Correct Answer Annuity Suitability involves ensuring there is a reasonable basis to believe the recommendation of an annuity is sensible and appropriate given a client's particular objectives, goals, and financial situation, among other factors.
fixed premium variable life - Correct Answer A payment for an insurance policy or annuity that does not change over the life of the policy or annuity. Fixed premiums have fewer risks for the policyholder or annuitant, and are very common. See also: Variable premium.

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