Examfx life - Study guides, Class notes & Summaries

ExamFX Louisiana Life and Health Insurance | Questions with 100% Correct Answers | Verified | Latest Update 2024

ExamFx Life Practice Exam Questions With Complete Solutions!!

An insured pays a $100 premium every month for his insurance coverage, yet the insurer promises to pay $10,000 for a covered loss. What characteristic of an insurance contract does this describe? - Aleatory: an aleatory contract means unequal amounts are exchanged between payments and benefits What is the Federal Credit Reporting Act? - Establishes procedures that consumer-reporting agencies must follow in order to ensure that records are confidential, accurate, relevant, and properly used....

EXAMFX LIFE AND HEALTH QUESTIONS AND ANSWERS

EXAMFX Life Insurance UPDATED Exam Questions and CORRECT Answers Life Insurance - Ans an insured pays a premium to an insurance company, and in return, the insurance company assumes the risk of that person dying prematurely Life Insurance Value - Ans -it can be a valuable part of an individual's estate, providing immediate cash to pay debts and providing financial security to the insured's survivors -like land or buildings, the cash value of a life insurance policy can be used as coll...

A business owner was trying to obtain a bank loan to fund the purchase of a new business facility, but the bank required proof of additional assets to secure the loan. The business owner then decided to use her $250,000 life insurance policy to secure the loan. Which provision makes this possible? - ans-Collateral Assignment Which of the following would be considered a nonmedical insurance application? - ans-An application on which the medical information is completed by the applicant and...

EXAMFX LIFE AND HEALTH EXAM WITH ACTUAL CORRECT QUESTIONS AND VERIFIED DETAILED ANSWERS |FREQUENTLY TESTED QUESTIONS AND SOLUTIONS|ALREADY GRADED A+|NEWEST|GUARANTEED PASS|LATEST UPDATE

All of the following long-term care coverages would allow an insured to receive care at home EXCEPT a. Skilled Care b. Custodial care in insured's house c. Respite care d. Home health care - a. What is the purpose of a suicide provision within a life insurance policy? - To protect the insurer from persons who purchase life insurance with the intention of committing suicide Which of the following is not true of Disability Buy-Sell coverage ? a. it is typically written to cover partners o...

EXAMFX LIFE AND HEALTH EXAM | update|COMPLETE MOST TESTED QUESTIONS AND VERIFIED ANSWERS (100% Correct solutions)| GET IT RIGHT!! | ALREADY GRADED A+

An insured pays a $100 premium every month for his insurance coverage, yet the insurer promises to pay $10,000 for a covered loss. What characteristic of an insurance contract does this describe? - Aleatory: an aleatory contract means unequal amounts are exchanged between payments and benefits What is the Federal Credit Reporting Act? - Establishes procedures that consumer-reporting agencies must follow in order to ensure that records are confidential, accurate, relevant, and properly used....