lorida Life and Health Insurance Ch 1 Questions and answers.

Florida Life and Health Insurance Ch 1
Questions and answers.

Agent/Producer - (correct answer) - a legal representative of an insurance company fg fg fg fg fgfg fg fg fg fg fg fg




Adverse selection - (correct answer) -fg fg fg fg fg




insuring of risks that are more prone to losses than the average risk
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Applicant/Proposed insured - (correct answer) - a person applying for insurance fg fg fg fg fg fgfg fg fg fg fg




Beneficiary - (correct answer) - a person who receives the benefits of an insurance policy
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Death benefit - (correct answer) -
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the amount paid upon the death of the insured in a life insurance policy
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Insurance policy - (correct answer) - fg fg fg fg fg




a contract between a policyowner and an insurance company which agrees to pay the insured or the be
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neficiary for loss caused by specific events
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Insured - (correct answer) - person covered by the insurance policy, may or may not be the policyowner
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Insurer - (correct answer) - the company who issues an insurance policy
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Lapse - (correct answer) - policy termination due to nonpayment of premium
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Life insurance - (correct answer) - coverage on human lives
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Policyowner - (correct answer) - the person entitled to exercise the rights and privileges in the policy
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Premium - (correct answer) - the money paid to the insurance company for the insurance policy
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