Life, Accident and Health Exam Study Guide with Complete Solutions
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Course
Life, Accident and Health
Institution
Life, Accident And Health
Life, Accident and Health Exam Study
Guide with Complete Solutions
Annuity - Answer--A contract between a person and an insurance company that requires the insurer
to make payments to you.
-You buy an annuity by making either a single payment or a series of payments
-Annuity Death benefits are...
Coordination of Benefits - Answer✔✔--Provision that applies in group insurance when an insured has
coverage under multiple plans at one time.
-Coordination of benefits is included in all group health insurance policies in order to reinforce the
principle of indemnity and determine which coverage is primary, which is the coverage the insured has
where they work.
Keogh plan - Answer✔✔--A retirement plan for the self-employed
The Social Security Blackout - Answer✔✔--Period of time when surviving family members are NOT
eligible for Social Security survivors benefits
-Begins at 16
-Ends at 60
Premium - Answer✔✔--The amount the insured pays the insurer for the coverage provided.
Solvent Insurer - Answer✔✔-Has enough reserves to pay for all its liabilities
Types of Life Policy Riders: - Answer✔✔--Waiver of Premium- Waives the insured's premium if the
insured becomes disabled
-Disability Income- Pays a replacement of the insured's lost income if the become disabled.
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