100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Aflac Insurance Terms #4 (part 2)- Questions and Answers $12.99   Add to cart

Exam (elaborations)

Aflac Insurance Terms #4 (part 2)- Questions and Answers

 1 view  0 purchase
  • Course
  • Aflac
  • Institution
  • Aflac

Aflac Insurance Terms #4 (part 2)- Questions and Answers

Preview 2 out of 7  pages

  • November 11, 2024
  • 7
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Aflac
  • Aflac
avatar-seller
ExamRoom
Aflac Insurance Terms #4 (part 2)-
Questions and Answers

Accidental Results Correct Ans-policies that use the accidental bodily injury provision
(sometimes called the results provision) required that the result of the injury has to be
unexpected and accidental. This is far less restrictive than the accidental means provision.




The Principal Sum under an AD&D policy Correct Ans-the amount payable as a death benefit.
It is the amount of insurance purchased. The principal sum represents the maximum amount
the policy will pay.




Capital Sum Correct Ans-another form of payment payable under an AD&D policy and is the
amount payable for the accidental loss of sight or accidental dismemberment, or the capital
sum. It is a specified amount, usually expressed as a percentage of the principal sum, which
varies according to the severity of the injury. For example, the benefit for the loss of one foot or
one hand is typically 50% of the principal sum. The most extreme losses (such as both feet or
sight in both eyes) generally qualify for payment of the full benefit, which is 100% of the
principal sum.




Limited Risk Policies Correct Ans-coverage for specific kinds of accidents or illnesses, such as
injuries received as a result of travel accidents or medical expenses stemming from a specified
disease.




Special risk policy Correct Ans-policy covers unusual hazards normally not covered under
ordinary accident and health insurance. An actress who insures her legs for $1 million or a pilot

, test-flying an experimental airplane who obtains a policy covering his life while flying that
particular plane are both purchasing special risk policies.




The Beneficiary of an Accidental Death and Dismemberment (AD&D) insurance policy
Correct Ans-the person or entity designated in the policy to receive the death proceeds.




The Primary Beneficiary Correct Ans-the first in line to receive death benefit proceeds.




The Secondary (contingent) Beneficiary Correct Ans-second in line to receive death benefit
proceeds.




The Tertiary Beneficiary Correct Ans-the third in line to receive death benefit proceeds. If no
one named, death benefit will go to insured's estate.




A Revocable Beneficiary Correct Ans-a beneficiary that the policy owner may change at any
time without notifying or getting permission from the beneficiary




An Irrevocable Beneficiary Correct Ans-may not be changed without the written consent of
the beneficiary. The irrevocable beneficiary has a vested interest in the policy, therefore the
policyowner may not exercise certain rights without the consent of the beneficiary.




Per Stirpes (by the bloodline) Correct Ans-in the event that a beneficiary dies before the
insured, benefits from that policy will be paid to that beneficiary's heirs.

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller ExamRoom. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $12.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

79373 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$12.99
  • (0)
  Add to cart