Arkansas Life and Health Insurance Complete Questions & Answers 100% Accurate!

Absolute Assignment - ANSWER assignment by the policyholder of all the policy control and rights to a third party Accident and Sickness - ANSWER insurance against bodily injury, death or disability by accident or against disability or expense resulting from sickness Accident Insurance - ANSWER a form of health insurance against loss by accidental bodily injury Accidental Bodily Injury - ANSWER generally, traumatic damage to the body, of external origin, unexpected and undersigned by the injured person Accidental Death Insurance - ANSWER a form of health insurance that provides pymt if death of the insured results from accident. Accidental death insurance is often combined with dismemberment insurance in a form called Accidental Death & Dismemberment Accidental Means - ANSWER the unexpected or undersigned cause of an accidental bodily injury. Under an accidental means definition, the mishap itself must be accidental Accumulations - ANSWER percentage additions to policy benefits made upon continuous renewal Acquisition Cost - ANSWER immediate cost to an insurer of putting a policy on the books-- clerical work, medical examiner's fee, inspection cost, commission etc Actuary - ANSWER a specialist in the mathematics of insurance who calculates rates, reserves, etc Adhesion - ANSWER refers to a contract that was prepared solely by one party (the ins co) with little or no involvement on the part of the other party (the insured) ex) take what you get Adjustable Life - ANSWER a form of life insurance which allows changes in the policy face amount, the amount of premium, period of protection, and the length of the premium paying period Admitted Company - ANSWER the insurance company authorized and licensed to do business in a given state Adverse Selection - ANSWER selection against the insurance company; the tendency of more poor risks to buy and maintain insurance than good risks Age Limits - ANSWER the age below or above which the insurance company will not issue a given policy or renew a policy in force Agent - ANSWER the individual appointed by an insurance company to solicit, negotiat