FLORIDA LIFE AND HEALTH 2-15 EXAM 200 VERIFIED QUESTIONS AND GUARANTEED ANSWERS ALREADY GRADED A+.

FLORIDA LIFE AND HEALTH 2-15 EXAM 200 VERIFIED QUESTIONS AND GUARANTEED ANSWERS ALREADY GRADED A+. Which of these actions is taken when a policyowner uses a Life insurance policy as collateral for a bank loan? - ANSWER- collateral assignment Which of the following correctly explains the actions an agent should take if a customer wants to apply for an insurance policy? - ANSWER- Complete the application and review the information with the customer prior to obtaining the customer's signature, then send the application off to the insurance company Which of the following types of permanent life insurance policies offers the highest initial cash value? - ANSWER- Single Premium What type of life insurance are credit policies issued as? - ANSWER- Term With Optionally Renewable health policies, the insurer may: - ANSWER- review the policy annually and determine whether or not to renew it What determines the full amount of Social Security retirement benefits a qualified individual is entitled to receive? - ANSWER- Primary Insurance Amount (PIA) Under a Renewable Term policy, - ANSWER- the renewal premium is calculated on the basis of the insured's attained age Which of the following Statements BEST describes that the Legal Actions provision of an Accident and Health policy requires? - ANSWER- An insured must wait 60 days after Proof of Loss has been submitted before a lawsuit can be filed Who benefits in Investor-Originated Life Insurance (IOLI) when the insured dies? - ANSWER- policyowner