Death - Study guides, Class notes & Summaries

Adverse Selection - Answer insuring of risks that are more prone to losses than the average risk lapse - Answer policy termination due to nonpayment of premium Insurance - Answer transfers risk of loss from an individual or business entity to an insurance company which in turn spreads the costs of unexpected losses to many individuals Life Insurance - Answer protects against loss associated with an insured's death, and pays a death benefit to beneficiaries upon death of the ins...

Traditional Whole Life - Answer -Ordinary (Straight) Life -Limited-Pay & Single-Premium Whole Life -Adjustable Whole Life Ordinary (Straight) Life - Answer -Until 100 or Death, whichever comes first -Permanent Protection -Rates & benefits based on law of large numbers (Mortality Rate) -Guaranteed, tax-deferred interest rate -Premium level, company's risk goes down as cash value goes up -Insurer keeps the cash value if death to offset risk -Lowest net cost in long run -Client h...

Which of these is a method of determining the level of funds required for ongoing support in the event of the breadwinner's death? Financial loss value Human life value Assessment value Replacement value - Answer Human life value The Guaranty Association Act provides that when a Court Order of Liquidation exists, the insurer - Answer Is insolvent An individual most likely will have an insurable interest in insuring a person's life if - Answer An economic interest exists for t...

Replacement regulation is designed to protect - Answer Policyowners from mirepresentation and loss of benefits All Health Benefit Plans issued after January 1, 2014 must provide - Answer Preventative health services Which of these will have the highest monthly payout upon annuitization - Answer Straight life Which of the following is included in the entire contract according ti the entire contract provison? - Answer Clauses Which of the following is considered to be an altern...

According to the Time Payment of Claims provision, the insurer must make the payment immediately after receiving proof of loss EXCEPT: - if the insured is able to eventually return to work -if the death is suicide or due to a pre existing condition -when the policy is in the incontestability period -for claims involving periodic payments - Answer for claims involving periodic payments INSURERS MUST PAY LUMP SUM CLAIMS IMMEDIATELY AFTER RECEIVING PROOF OF LOSS What does coinsurance ...

Which of the following amounts must decrease in a decreasing term? - Answer Death benefit In life insurance, insurable interest must exist at the time the.. - Answer Producer writes an on a proposed insured An applicant makes an offer to the insurer when they - Answer pay an initial premium with the application Which of the following makes Universal Life insurance different from other forms of permanent insurance? - Answer Premium Schedule An insurer that shares its profits w...

Which type of long-term care benefit would be most appropriate for a stroke victim who requires speech therapy administered at her home? - Answer Home health care Which of the following is NOT a federal requirement of a qualified plan? - Answer Employee must be able to make unlimited contributions Why are dividends from a mutual insurer not subject to taxation? - Answer Because dividends are considered to be a return of premium The treasurer of XYZ Insurance Company discovers that...

The Waiver of Cost of Insurance rider is found in what type of insurance? - Answer Universal Life If an insured continually uses the automatic premium loan option to pay the policy premium, - Answer The policy will terminate when the cash value is reduced to nothing If a settlement option is not chosen by the beneficiary or policyowner, which option will be used? - Answer Lump sum An insured misstates her age at the time the life insurance application is taken. This misstatement m...

adhesion - Answer (take it or leave it) no changing the contract. take it as is. aleatory contract - Answer (uneven) You will never pay as much in premium as what you get in coverage peril - Answer died of a certain way Hazard - Answer cause of loss Variable Universal Life - Answer requires FINRA license the difference between insure vs. insured - Answer Insure (must pay policy benefit "the company") insured (the customer) S & P 500 - Answer Equity index annuity...

PEDS HESI HINTS, UPDATED-Growth and Development - Client safety is the hallmark of nursing. The fundamental components of nursing practice include nursing process integrated w/ caring, communication, and spirituality, teaching, and learning as well as documentation of the integration of each of these elements - Erikson (Psychosocial) – TM,AS,IG,II,IRC,II -TMASIGIIIRCII o Trust vs mistrust (birth-1 year) ▪ Having parents hold their child while in the hospital is an excellent means of buil...