Utah Life and Health Insurance
EXAM, Comprehensive Questions
Merged With Correct Complete
Solutions || Already Graded A+ ||
Latest Update!!!
Absolute assignment - ANSWER-A transfer by the policy holder of all
control and rights to a third party
Accident - ANSWER-A sudden event, unforeseen and unintended
Accident and Sickness - ANSWER-Insurance against bodily injury,
disability or death by accident, or against disability or expense
resulting from sickness, and the insurance relating thereto
Accidental Means - ANSWER-The unexpected cause of an accidental
bodily injury. Under this definition, which is very restrictive, if you
meant to do whatever caused your injury, there is no coverage. Most
health insurance policies cover accidental bodily injury, which is much
broader, in that it covers accidents regardless of the cause
Accumulation at interest option - ANSWER-A dividend or settlement
option under which the policyholder allows his dividends or policy
, proceeds to accumulate interest with the company. Although the
dividends or proceeds are not generally
Actuary - ANSWER-One concern with the application of probability
and statistical theory to insurance, utilizing the law of large numbers.
AD&D accidental death and dismemberment insurance - ANSWER-A
limited form of health insurance that covers accident only. It is the
only type of health insurance that covers death. AD&D policies do not
follow the principle of indemnity, in that they pay in addition to any
other coverage the insured has.
ADB Accidental death benefit - ANSWER-Also known as double
indemnity. A rider added to a life policy that will pay double the face
amount if the insured dies as a result of the accident, generally within
90 days of the accident.
Adverse selection - ANSWER-Selection not in favor of the company.
The tendency of poorer risks to want insurance more often than
standard risks. For example, a person who is already sick would like to
buy health insurance.
Adverse underwriting decisions, consumer rights - ANSWER-Under the
fair credit reporting act, when an adverse underwriting decision is
made, the insurer must provide the applicant or policyholder with
specific written reasons for the decision, or advise the individual that
specific reasons are available upon written request. Upon receipt of
the written request, the insurer must furnish specific regions for the
adverse decision and the names and addresses of the sources the
provided the information.
EXAM, Comprehensive Questions
Merged With Correct Complete
Solutions || Already Graded A+ ||
Latest Update!!!
Absolute assignment - ANSWER-A transfer by the policy holder of all
control and rights to a third party
Accident - ANSWER-A sudden event, unforeseen and unintended
Accident and Sickness - ANSWER-Insurance against bodily injury,
disability or death by accident, or against disability or expense
resulting from sickness, and the insurance relating thereto
Accidental Means - ANSWER-The unexpected cause of an accidental
bodily injury. Under this definition, which is very restrictive, if you
meant to do whatever caused your injury, there is no coverage. Most
health insurance policies cover accidental bodily injury, which is much
broader, in that it covers accidents regardless of the cause
Accumulation at interest option - ANSWER-A dividend or settlement
option under which the policyholder allows his dividends or policy
, proceeds to accumulate interest with the company. Although the
dividends or proceeds are not generally
Actuary - ANSWER-One concern with the application of probability
and statistical theory to insurance, utilizing the law of large numbers.
AD&D accidental death and dismemberment insurance - ANSWER-A
limited form of health insurance that covers accident only. It is the
only type of health insurance that covers death. AD&D policies do not
follow the principle of indemnity, in that they pay in addition to any
other coverage the insured has.
ADB Accidental death benefit - ANSWER-Also known as double
indemnity. A rider added to a life policy that will pay double the face
amount if the insured dies as a result of the accident, generally within
90 days of the accident.
Adverse selection - ANSWER-Selection not in favor of the company.
The tendency of poorer risks to want insurance more often than
standard risks. For example, a person who is already sick would like to
buy health insurance.
Adverse underwriting decisions, consumer rights - ANSWER-Under the
fair credit reporting act, when an adverse underwriting decision is
made, the insurer must provide the applicant or policyholder with
specific written reasons for the decision, or advise the individual that
specific reasons are available upon written request. Upon receipt of
the written request, the insurer must furnish specific regions for the
adverse decision and the names and addresses of the sources the
provided the information.
