An annuity promises that Study guides, Class notes & Summaries

Texas State Exam Simulator - Life and Health Insurance (200 Questions Practice Exam Questions and Answers with complete solutions)2023/2024 An annuity promises that, if the annuitant dies before receiving payments equal to the correct value, the payments will be continued to a beneficiary until an amount equal to the contract value has been paid. This type of annuity is called An installment Refund annuity A Straight Life annuity A Cash Refund annuity A Joint Life annuity - CORRECT ...

Virginia Life and Health Exam Review. Questions with accurate answers. 2022/2023. Document Content and Description Below Virginia Life and Health Exam Review. Questions with accurate answers. 2022/2023. What contract term means only one party to a contract's promises are legally enforceable? - Unilateral Mr. Jones, the insured, committed suicide after the expiration of the suicide clause in his life insurance policy. The insurer is obligated to: - Pay the death benefit. The benefit that encou...

Texas State Exam Simulator - Life and Health Insurance (200 Questions Practice Exam) Questions and Answers 100% Pass An annuity promises that, if the annuitant dies before receiving payments equal to the correct value, the payments will be continued to a beneficiary until an amount equal to the contract value has been paid. This type of annuity is called An installment Refund annuity A Straight Life annuity A Cash Refund annuity A Joint Life annuity - Correct Answer ️️ -An installm...

Texas State Exam Simulator - Life and Health Insurance (200 Questions Practice Exam) Verified Answers. An annuity promises that, if the annuitant dies before receiving payments equal to the correct value, the payments will be continued to a beneficiary until an amount equal to the contract value has been paid. This type of annuity is called An installment Refund annuity A Straight Life annuity A Cash Refund annuity A Joint Life annuity - An installment Refund annuity One becomes eligible...

An annuity promises that, if the annuitant dies before receiving payments equal to the correct value, the payments will be continued to a beneficiary until an amount equal to the contract value has been paid. This type of annuity is called An installment Refund annuity A Straight Life annuity A Cash Refund annuity A Joint Life annuity - An installment Refund annuity One becomes eligible for Social Security disability benefits after having been disabled for 3 months 5 months 6 months 1...

LOMA 281 Practice Test with Complete Solutions Pure risk - Answer-Risks that involve either a loss or no loss Speculative risk - Answer-Risk that can result in a loss, gain or no change Insurance - Answer-A method for transferring risk from an individual to an insurance company Premium - Answer-The amount that the insured pays in exchange for a promise of money Risk pooling - Answer-Insurers collect premiums from all insured people and spread the cost of the relatively few anticip...

LOMA 281 Module 1 Latest Update Graded A+ Risk the possibility of an unexpected result. Premium A specified amount of money an insurer charges in exchange for its agreement to pay a policy benefit when a specific loss occurs. Insurance company A company that provides protection against the risk of financial loss caused by specific events. Life insurance A type of insurance under which the insurer promises to pay a death benefit upon the death of a named person. Annuity A fin...

FInal Exam: California Life, Accident, and Health Insurance Questions and Answers 100% Pass What distinguishes a deferred annuity from an immediate annuity? - Correct Answer ️️ -The time at which benefit payments start Cindy buys a 10-year certain annuity with an installment refund. After receiving monthly payments for 5 years, Cindy dies. How many remaining payments will the insurer make to her beneficiary? - Correct Answer ️️ -60 payments What is a common reason people purchase ...

TEXAS STATE EXAM 2024 WITH ACCURATE SOLUTIONS An annuity promises that, if the annuitant dies before receiving payments equal to the correct value, the payments will be continued to a beneficiary until an amount equal to the contract value has been paid. This type of annuity is called An installment Refund annuity A Straight Life annuity A Cash Refund annuity A Joint Life annuity - correct answer An installment Refund annuity One becomes eligible for Social Security disabilit...

Virginia Life and Health Exam Review Questions and Answers 100% Pass What contract term means only one party to a contract's promises are legally enforceable? Unilateral Mr. Jones, the insured, committed suicide after the expiration of the suicide clause in his life insurance policy. The insurer is obligated to: Pay the death benefit. The benefit that encourages the disabled policy owner to try to return to work is: Recurrent disability Jeff has limited financial resources, but ...