Aflac - Study guides, Class notes & Summaries

Uses of Life Insurance - -Insured pays premium to company and in return, company assumes risk of that person dying prematurely -premium (small certain loss) is exchanged for a large uncertain loss -spreading risk of premature death among a large group Life insurance has value like property: -valuable part of individuals estate, providing immediate cash to pay debts and financial security to insured's survivors -cash value of life insurance policy can be used as collateral to secure a loa...

Aflac Final Exam Questions (Everything) Answered Correctly!!

An insured covered by Accidental Death and Dismemberment (AD&D) insurance has just died. What will happen if the primary beneficiary had already died before the insured and contingent beneficiary? - Proceeds will go to the contingent beneficiary The federal income tax treatment of employer-provided group Medical Expense insurance can be accurately described as: - Employee's premiums paid by the employer is tax-deductible to the employer as a business expenditure P and Q are married and ha...

Aflac Insurance Exam with 100% correct answers graded A+ passed

AFLAC Certification Exam Questions and CORRECT Answers How would a contingent beneficiary receive the policy proceeds in an Accidental Death and Dismemberment (AD&D) policy? - Ans If the primary beneficiary dies before the insured S is employed by a large corporation that provides group health coverage for its employees and their dependents. If S dies, the company must allow his surviving spouse and dependents to continue their group health coverage for a maximum of how many months und...

Bob has an insurance policy that allows him to keep the policy in force until the next premium is due plus 30 days thereafter. Bob's policy: - Contains a grace period Which of the following is an example of "non forfeiture value" - after a policy owner cancels his/her permanent policy, the cash value accumulation must be made available to the policyowners Paula has an insurance policy that has a guaranteed minimum cash value, a guaranteed death benefit, fixed premiums, and grows at a rat...

Accident Indemnity Advantage(Policy Series A35000) - Key Features -Two coverage options available: 24-hour coverage or off-the-job only -Three plan levels -Benefits for many major/minor procedures and common injuries -Coverage for certain hazardous activities -Additional Accidental-Death Benefit Rider available -Optional disability benefit riders available Aflac Accident Advantage(Policy Series A36000) - Key Features -More flexibility with four options of coverage for injuries such as f...

What must insurance producers have in the event of being sued for malpractice? - Errors and omissions insurance coverage Incentive programs inclue - -promotions -contests -sweepstakes if your local radio station requests an interview with you to discuss aflac insurance products in your capacity as an aflac sales producer, are you authorized to speak with the station? - No, only individuals authorized by Aflac Worldwide Headquarters are permitted to discuss Aflac or its products wit media...

Insurance is defined as... - the transfer of PURE risk to the insurance company in consideration for a premium Pure risk is... - the chance of loss without any possibility for gain Speculative risk is... - the possibility for gain or loss and is not insurable Risk is defined as... - the chance for loss An exposure is... - a condition that could result in a loss A hazard is... - something that increase the chance of loss The presence of a physical hazard... - increases the chance of a loss...

AFLAC ACADEMY INSURANCE EXAM ACL006-010 (TEST QUESTIONS AT THE END OF EACH CHAPTER) GRADED A+