MISSISSIPPI LIFE AND HEALTH
INSURANCE EXAM 2025 |
GUARANTEED ACCURATE
ANSWERS
Absolute assignment - ACCURATE ANSWERS✔✔ Policy assignment
under which the assignee (person to whom the policy is assigned)
receives full control over the policy and also full rights to its benefits.
Generally, when a policy is assigned to secure
a debt, the owner retains all rights in the policy in excess of the debt,
even though the assignment is absolute in
form. (See assignment)
Accelerated benefits rider - ACCURATE ANSWERS✔✔ A life
insurance rider that allows for the early payment of some portion of the
policies face amount should the insured suffers from a terminal i l l n e s
s or injury.
Acceptance - ACCURATE ANSWERS✔✔ (See offer and acceptance)
Accidental bodily injury provision - ACCURATE ANSWERS✔✔
Disability income or accident policy provision that requires that the
injury
,be accidental in order for benefits to be payable.
Accidental death and dismemberment (AD&D) - ACCURATE
ANSWERS✔✔ Insurance providing payment if the insured's death
results
from an accident, if the insured accidentally severs a limb above the
wrist or ankle joints, or totally and irreversibly
Accidental death benefit rider - ACCURATE ANSWERS✔✔ A life
insurance policy rider providing for payment of an additional benefit
when death occurs by accidental means.
Accidental dismemberment - ACCURATE ANSWERS✔✔ Often
defined as "the severance of limbs at or above the wrists or ankle
joints, or the entire irrevocable loss of sight." Loss of use in itself may or
not be considered dismemberment.
Accidental means provision - ACCURATE ANSWERS✔✔ Unforeseen,
unexpected, unintended cause of an accident. Requirement of an
accident-based policy that the cause of the mishap must be accidental for
any claim to be payable.
Accident and health insurance - ACCURATE ANSWERS✔✔ Under
which benefits are payable in case of disease, accidental injury, or
,accidental death. Also called health insurance, personal health insurance,
and sickness and accident insurance.
Accumulation unit - ACCURATE ANSWERS✔✔ Premiums an
annuitant pays into annuities are credited as accumulation units. At the
end of
the accumulation period, accumulation units are converted to annuity
units.
Acquired immune deficiency syndrome (AIDS) - ACCURATE
ANSWERS✔✔ A life-threatening condition brought on by the human
immunodeficiency virus; insurers must adhere to strict underwriting and
claims guidelines in regard to AIDS risks
and AIDS-related conditions.
Acute illness - ACCURATE ANSWERS✔✔ A serious condition, such
as pneumonia, from which the body can fully recover with proper
medical attention.
Adhesion - ACCURATE ANSWERS✔✔ A life insurance policy is a
contract of adhesion because buyers must adhere to the terms of the
contract already in existence. They have no opportunity to negotiate
terms, rates, values, and so on.
, Adjustable life insurance - ACCURATE ANSWERS✔✔ Combines
features of both term and whole life coverage with the length of
coverage
and amount of accumulated cash value as the adjustable factors.
Premiums may be increased or decreased to fit the
specific needs. Such adjustments are not retroactive and apply only to
the future.
Administrative-services-only (ASO) Plan - ACCURATE
ANSWERS✔✔ Arrangement under which an insurance company or an
independent organization, for a fee, handles the administration of claims,
benefits, and other administrative
functionsfor a self-insured group.
Admitted insurer - ACCURATE ANSWERS✔✔ An insurance company
that has met the legal and financial requirements for operation within
a given state.
Adult day care - ACCURATE ANSWERS✔✔ Type of care (usually
custodial) designed for individuals who require assistance with various
activities of daily living, while their primary caregivers are absent.
Offered in care centers.
Adverse selection - ACCURATE ANSWERS✔✔ Selection "against the
company." Tendency of less favorable insurance risks to seek or
INSURANCE EXAM 2025 |
GUARANTEED ACCURATE
ANSWERS
Absolute assignment - ACCURATE ANSWERS✔✔ Policy assignment
under which the assignee (person to whom the policy is assigned)
receives full control over the policy and also full rights to its benefits.
Generally, when a policy is assigned to secure
a debt, the owner retains all rights in the policy in excess of the debt,
even though the assignment is absolute in
form. (See assignment)
Accelerated benefits rider - ACCURATE ANSWERS✔✔ A life
insurance rider that allows for the early payment of some portion of the
policies face amount should the insured suffers from a terminal i l l n e s
s or injury.
Acceptance - ACCURATE ANSWERS✔✔ (See offer and acceptance)
Accidental bodily injury provision - ACCURATE ANSWERS✔✔
Disability income or accident policy provision that requires that the
injury
,be accidental in order for benefits to be payable.
Accidental death and dismemberment (AD&D) - ACCURATE
ANSWERS✔✔ Insurance providing payment if the insured's death
results
from an accident, if the insured accidentally severs a limb above the
wrist or ankle joints, or totally and irreversibly
Accidental death benefit rider - ACCURATE ANSWERS✔✔ A life
insurance policy rider providing for payment of an additional benefit
when death occurs by accidental means.
Accidental dismemberment - ACCURATE ANSWERS✔✔ Often
defined as "the severance of limbs at or above the wrists or ankle
joints, or the entire irrevocable loss of sight." Loss of use in itself may or
not be considered dismemberment.
Accidental means provision - ACCURATE ANSWERS✔✔ Unforeseen,
unexpected, unintended cause of an accident. Requirement of an
accident-based policy that the cause of the mishap must be accidental for
any claim to be payable.
Accident and health insurance - ACCURATE ANSWERS✔✔ Under
which benefits are payable in case of disease, accidental injury, or
,accidental death. Also called health insurance, personal health insurance,
and sickness and accident insurance.
Accumulation unit - ACCURATE ANSWERS✔✔ Premiums an
annuitant pays into annuities are credited as accumulation units. At the
end of
the accumulation period, accumulation units are converted to annuity
units.
Acquired immune deficiency syndrome (AIDS) - ACCURATE
ANSWERS✔✔ A life-threatening condition brought on by the human
immunodeficiency virus; insurers must adhere to strict underwriting and
claims guidelines in regard to AIDS risks
and AIDS-related conditions.
Acute illness - ACCURATE ANSWERS✔✔ A serious condition, such
as pneumonia, from which the body can fully recover with proper
medical attention.
Adhesion - ACCURATE ANSWERS✔✔ A life insurance policy is a
contract of adhesion because buyers must adhere to the terms of the
contract already in existence. They have no opportunity to negotiate
terms, rates, values, and so on.
, Adjustable life insurance - ACCURATE ANSWERS✔✔ Combines
features of both term and whole life coverage with the length of
coverage
and amount of accumulated cash value as the adjustable factors.
Premiums may be increased or decreased to fit the
specific needs. Such adjustments are not retroactive and apply only to
the future.
Administrative-services-only (ASO) Plan - ACCURATE
ANSWERS✔✔ Arrangement under which an insurance company or an
independent organization, for a fee, handles the administration of claims,
benefits, and other administrative
functionsfor a self-insured group.
Admitted insurer - ACCURATE ANSWERS✔✔ An insurance company
that has met the legal and financial requirements for operation within
a given state.
Adult day care - ACCURATE ANSWERS✔✔ Type of care (usually
custodial) designed for individuals who require assistance with various
activities of daily living, while their primary caregivers are absent.
Offered in care centers.
Adverse selection - ACCURATE ANSWERS✔✔ Selection "against the
company." Tendency of less favorable insurance risks to seek or
