Aflac - Study guides, Class notes & Summaries

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...

Aflac Final Exam Questions (Everything) Answered Correctly!!

Tim was recently terminated from his employment and opted to change his existing group term life insurance to individual permanent life insurance. What is this process called? - Coinversion What are residual disability income indurance payments based on? - The amount of the insured's income is reduced by the disability Reasonably necessary acts that an agent must perform for carrying out his/ her expressly authorized suitors are covered by an agent's: - Implied authority Which of the fol...

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...

*A situation that arises during the sale of insurance coverage to a customer in which the producer's self interest interferes with their obligation to act in the best interests of the customer is called:* A. conflict of interest B. dispute resolution C. teachable moment D. NONE of the ABOVE - ANS *A. conflict of interest* *Which of the following reasons is NOT a valid reason for replacing a customer's insurance coverage?* A. rate increase B. declining health status C. n...

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

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...

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...

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...

Making a statement that is false or maliciously critical of the financial condition of an insurer is known as - Answer-defamation Which of the following statements regarding an examination of an insurer's books and records by the Commissioner is true? - An insurer has a right to delay an examination by the Commissioner for a period of not more than 15 days after notification -The insurer must not impede an examination and is required to assist in the examination procedures -Reports relat...