Accidental death benefit - Study guides, Class notes & Summaries

2024 FLORIDA LIFE HEALTH AND ANNUITIES 215 450 QUESTIONS AND CORRECT DETAILED ANSWERS UPDATE ALREADY A GRADED|NEW!! Accidental death benefit rider - CORRECT ANSWERTwice (or three times) the benefit will be paid if the insured dies in an accident Accidental dismemberment - CORRECT ANSWERLoss of a body part-state test actual loss not just loss of use Accidental means provision - CORRECT ANSWERBenefit only paid when the insured was not in control of the accident Accidental resu...

Final Exam - Florida Life and Health | all 2023/24 questions and answers Which Unfair Trade Practice involves making a false statement on an insurance application in order to receive money from an insurer? - Misrepresentation Who owns a stock company? - A stock insurance company is owned by its stockholders. In Florida, which of the following is considered an Unfair Trade Practice? - Coercion Which of these options can an individual use their medical flexible spending account to pay for...

2024 FLORIDA LIFE HEALTH AND ANNUITIES 2- 15 450 QUESTIONS AND CORRECT DETAILED ANSWERS UPDATE ALREADY A GRADED|NEW!! Accidental death benefit rider -CORRECT ANSWERTwice (or three times) the benefit will be paid if the insured dies in an accident Accidental dismemberment -CORRECT ANSWERLoss of a body part-state test actual loss not just loss of use Accidental means provision -CORRECT ANSWERBenefit only paid when the insured was not in control of the accident Accidental results pr...

NC LIFE insurance state exam questions and answers 100% pass CREDIT LIFE a special type of coverage written to the life of the debtor and pay off the balance of a loan in the event of the death of the debtor. BUY-SELL AGREEMENTS a legal contract that determines what will be done with a business in the event that an owner dies or becomes disabled. Otherwise known as a business continuation agreement INSURABLE INTEREST to purchase insurance the policy owner must face the possibility of losing mo...

Under a traditional IRA, interest is taxed: Only if withdrawn prior to age 59 1/2 According to the capital gains rate Upon distribution During the accumulation phase - ANSWER-Upon distribution Which of these statements concerning Traditional IRAs is CORRECT? Earnings are not taxable when withdrawn Earnings are taxable when withdrawn Contribution are never tax deductible Contributions are always made by the employer - ANSWER-Earnings are taxable when withdrawn Wh...

Virginia Health Insurance Test Latest Update Graded A+ Absolute An assignment that occurs when the policy owner assigns all rights including cash values to another person or entity. Synonymous with voluntary assignment. Absolute Value A medical expense plan that pays a fixed maximum dollar amount for a procedure. Accelerated Benefit Rider Life insurance rider which allows the insured to receive a portion of the death benefit prior to death if the insured has a terminal illness. ...

A funeral prearrangement life insurance agent must be supervised - Answer- By a legal reserve life insurance agent whose company holds a seller's permit. The maximum initial guaranteed death benefit that a funeral prearrangement life insurance agent may sell is - Answer- $15,000 A funeral prearrangement life insurance agent license expires when the agent - Answer- Fails to submit a biannual renewal application and fee When an application for an insurance agent license is denied, except...

Acceleration Clause - ANSWER The part of a contract that says when a loan may be declared due and payable. Accidental Death Benefit - ANSWER In a life insurance policy, benefit in addition to the death benefit paid to the beneficiary, should death occur due to an accident. There can be certain exclusions as well as time and age limits. Active Participant - ANSWER Person whose absence from a planned event would trigger a benefit if the event needs to be canceled or postponed. Activities ...

Life and Health Insurance - Ohio Licensing Exam 2024 with Verified Answers Absolute Assignment - CORRECT ANSWER-The assignment by the policy owner of all control and rights to a third party. This differs from collateral assignment, which allows all the rights and control to revert to the owner once a loan is paid off Accident - CORRECT ANSWER-A fortuitous event; unforeseen and unintended Accidental Death Insurance - CORRECT ANSWER-A form of health insurance that provides payment if ...

WA Life Insurance Study Questions with Complete Solutions Which of these is NOT considered to be a common life insurance nonforfeiture option? a) Cash surrender b) Extended term insurance c) Reduced paid-up insurance d) Life income annuity d) Life income annuity All of the following riders can increase the death benefit amount EXCEPT a) Cost of living b) Waiver of Premium c) Accidental Death Rider d) Guaranteed Insurability b) Waiver of Premium Joanne has a $100,000 whole life po...