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Texas Life Health insurance exam |Questions with 100% Correct AnswersTexas Life Health insurance exam |Questions with 100% Correct Answers$13.24
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Texas Life Health insurance exam
|Questions with 100% Correct
Answers
Activities of daily living (ADLs) - ✔ ✔ a person's essential activities that
include bathing, dressing, eating, transferring, toileting, continence
Assignment - ✔ ✔ transfer of right of policy ownership
Consideration - ✔ ✔ something of value that each party gives to the other
(binding force in any contract)
Indemnity - ✔ ✔ a principle of reimbursement of which insurance is based; in the
event of loss, an insurer reimburses the insureds or beneficiaries for the loss
Lump sum - ✔ ✔ payment of the entire benefit in one sum
Minor - ✔ ✔ a person under legal age
,NAIC - ✔ ✔ National Association of Insurance Commissioners, an organization
composed of insurance commissioners from all states and jurisdictions formed to
resolve insurance regulatory issues
Principal - ✔ ✔ the face value of the policy; the original amount invested
before the earnings
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