Washington Life/Health Insurance Exam
401 (okay) - ANS-Portion of pre-tax salaries into funding accounts in which it grows tax
deferred. Matching from organization is common. Investment desire directed by using worker.
Cap on contributions.
403 (b) - ANS-Public schools and non profits. Pre-tax contributions and tax deferred boom.
A contract is to be
legitimate, its reason ought to be legal - ANS-simplest folks that
are capable of expertise the phrases of a agreement and who're
not underneath duress may also come to be events to a contract
absolute task - ANS-Owner transfers the proprietor's complete interest within the policy to the
assignee
Accelerated Death Benefit Rider - ANS-requires the Insurer to pay out part of the death gain
(usually 50%) if the Insured has a analysis of a specific infection
probably to cause demise inside three hundred and sixty five days
Accident simplest polocies - ANS-Helps pay the health care charges that result from an twist of
fate
Accumulate at hobby dividend choice - ANS-The dividends are left in a sales account to
accumulate interest at a fixed quantity specified in the policy. Dividends aren't taxable, however
the interest is.
Actuary - ANS-A person who tracks the lifespan and risk of contamination or twist of fate
primarily based on specific elements
AD&D Rider - ANS-Accidental loss of life and dismemberment (Add-ons), Accidental lack of life,
limb or vision, can pay advantages in a lump sum simplest while medical problems are direct
end result of an twist of fate (now not illness), death within 90 days of accident or coverage
won't pay, if coincidence is brought about by way of infection - no payout, price policy now not
indemnity policy, as a minimum one hand, one foot or imaginative and prescient in one eye pays
capital sum (100%), if fingers, toes or vision in both eyes, policy pays complete amount, when
attached to existence or fitness coverage, the rider can pay over and above overriding coverage
Additional Children insurance - ANS-Covered from the instant of beginning till 31 days. Adopted
youngsters are treated just like newborns.
,Additional insured time period rider - ANS-Whole existence to insured, convertible term lifestyles
riders on circle of relatives contributors, or enterprise partners
Additional paid-up insurance dividend option (Paid-up additions dividend choice) -
ANS-Dividend used as a unmarried net top rate payment on a miniature paid up complete
existence policy. This is the automatic dividend choice while no different choice is chosen.
Adjustable lifestyles - ANS-Components of the policy are adjustable to fulfill the desires of the
coverage holder. If the insured wants to growth the loss of life benefit, proof of insurability is
needed.
Adult dependent kids - ANS-A continuation privilege allows adult kids up to the restricting age to
be protected so long as they're full-time college students.
Adult disabled kids may be protected their entire lives as long as they are incapable of
supporting themselves and dependent upon the parents. An adult wellknown top rate can be
charged at age 18. Proof of incapacity or dependency is essential inside 31 days of reaching
their 18th birthday. Annual evidence of handicap can be required to maintain dependent
insurance.
Adverse selection - ANS-individuals who need
coverage the most are those most likely to buy it - and buy
extra of it inflicting more loss claims
Adverse selection - ANS-the tendency for excessive
hazard people to be much more likely to use for insurance than low chance
humans.
Agent duties - ANS-Explain the underwriting method to the applicant and
offer disclosures as required through law.
• If the applicant does not entire a portion of the appli-
cation, the applicant must for my part make the modifications
and sign or preliminary them.
• If the agent makes a mistake on the agent's portion
of the application, the agent must accurate the alternate
and sign or initial the correction.
• Remember, if an incomplete utility receives through the agent
and the underwriters, and a coverage is issued and added,
the employer is bound by using the policy underneath the concept of
waiver.
• Make positive that top class exams are stuffed out efficaciously,
signed, and made payable to the employer, not to the agent.
• If a check is mistakenly made payable to the agent, the
agent ought to ask the customer to wreck it and write a new
, take a look at.
• If a test is unsigned, the agent should go back it to the
patron for signature.
• If a take a look at is invalid, the agent have to explain that the
conditional receipt will no longer be valid till right charge is
acquired.
• If an agent collects a premium take a look at while out of the
workplace, the agent have to provide the client a transient hand-
written receipt and then mail or a deliver an legitimate receipt.
• Many organizations require the agent to deliver a policy in
individual. The motive for this is to explain the phrases of the
policy and, if a coverage is rated, to explain the motive why.
• Unless a conditional receipt is used, the agent have to
provide an explanation for that the Insured will no longer be covered until the policy
is added, no matter what number of true religion shipping
tries are made with the aid of the agent.
Agent/producer - ANS-acts as a criminal consultant
of the coverage organization
Agreement = - ANS-provide + attractiveness
Aleatory - ANS-When one party or every other has the capability to recieve dramatically
exceptional level of benefits relative to the price of receiving those benifits
Annual forestall-loss restrict - ANS-A measure that limits the most quantity for which the
insurance may be chargeable for in a said time period.
Annually renewable time period - ANS-After the extent term coverage can enlarge coverage
without imparting proof of insurability. The top class will pass up each 12 months, due to better
attained age and no proof of insurability. Max age of sixty five.
Reentry term - Two top rate levels for renewal for those who can show insurability and for folks
who cant
Annuity certain options - ANS-Either the term payments might be received or the quantity of
every price, to be determined via the annuitant.
Annuity settlement alternative - ANS-...
Assignment - ANS-Having payments move directly from health care corporations to the carriers
at with the permission of the insured
challenge clause - ANS-The procedure through which the transfer is completed
401 (okay) - ANS-Portion of pre-tax salaries into funding accounts in which it grows tax
deferred. Matching from organization is common. Investment desire directed by using worker.
Cap on contributions.
403 (b) - ANS-Public schools and non profits. Pre-tax contributions and tax deferred boom.
A contract is to be
legitimate, its reason ought to be legal - ANS-simplest folks that
are capable of expertise the phrases of a agreement and who're
not underneath duress may also come to be events to a contract
absolute task - ANS-Owner transfers the proprietor's complete interest within the policy to the
assignee
Accelerated Death Benefit Rider - ANS-requires the Insurer to pay out part of the death gain
(usually 50%) if the Insured has a analysis of a specific infection
probably to cause demise inside three hundred and sixty five days
Accident simplest polocies - ANS-Helps pay the health care charges that result from an twist of
fate
Accumulate at hobby dividend choice - ANS-The dividends are left in a sales account to
accumulate interest at a fixed quantity specified in the policy. Dividends aren't taxable, however
the interest is.
Actuary - ANS-A person who tracks the lifespan and risk of contamination or twist of fate
primarily based on specific elements
AD&D Rider - ANS-Accidental loss of life and dismemberment (Add-ons), Accidental lack of life,
limb or vision, can pay advantages in a lump sum simplest while medical problems are direct
end result of an twist of fate (now not illness), death within 90 days of accident or coverage
won't pay, if coincidence is brought about by way of infection - no payout, price policy now not
indemnity policy, as a minimum one hand, one foot or imaginative and prescient in one eye pays
capital sum (100%), if fingers, toes or vision in both eyes, policy pays complete amount, when
attached to existence or fitness coverage, the rider can pay over and above overriding coverage
Additional Children insurance - ANS-Covered from the instant of beginning till 31 days. Adopted
youngsters are treated just like newborns.
,Additional insured time period rider - ANS-Whole existence to insured, convertible term lifestyles
riders on circle of relatives contributors, or enterprise partners
Additional paid-up insurance dividend option (Paid-up additions dividend choice) -
ANS-Dividend used as a unmarried net top rate payment on a miniature paid up complete
existence policy. This is the automatic dividend choice while no different choice is chosen.
Adjustable lifestyles - ANS-Components of the policy are adjustable to fulfill the desires of the
coverage holder. If the insured wants to growth the loss of life benefit, proof of insurability is
needed.
Adult dependent kids - ANS-A continuation privilege allows adult kids up to the restricting age to
be protected so long as they're full-time college students.
Adult disabled kids may be protected their entire lives as long as they are incapable of
supporting themselves and dependent upon the parents. An adult wellknown top rate can be
charged at age 18. Proof of incapacity or dependency is essential inside 31 days of reaching
their 18th birthday. Annual evidence of handicap can be required to maintain dependent
insurance.
Adverse selection - ANS-individuals who need
coverage the most are those most likely to buy it - and buy
extra of it inflicting more loss claims
Adverse selection - ANS-the tendency for excessive
hazard people to be much more likely to use for insurance than low chance
humans.
Agent duties - ANS-Explain the underwriting method to the applicant and
offer disclosures as required through law.
• If the applicant does not entire a portion of the appli-
cation, the applicant must for my part make the modifications
and sign or preliminary them.
• If the agent makes a mistake on the agent's portion
of the application, the agent must accurate the alternate
and sign or initial the correction.
• Remember, if an incomplete utility receives through the agent
and the underwriters, and a coverage is issued and added,
the employer is bound by using the policy underneath the concept of
waiver.
• Make positive that top class exams are stuffed out efficaciously,
signed, and made payable to the employer, not to the agent.
• If a check is mistakenly made payable to the agent, the
agent ought to ask the customer to wreck it and write a new
, take a look at.
• If a test is unsigned, the agent should go back it to the
patron for signature.
• If a take a look at is invalid, the agent have to explain that the
conditional receipt will no longer be valid till right charge is
acquired.
• If an agent collects a premium take a look at while out of the
workplace, the agent have to provide the client a transient hand-
written receipt and then mail or a deliver an legitimate receipt.
• Many organizations require the agent to deliver a policy in
individual. The motive for this is to explain the phrases of the
policy and, if a coverage is rated, to explain the motive why.
• Unless a conditional receipt is used, the agent have to
provide an explanation for that the Insured will no longer be covered until the policy
is added, no matter what number of true religion shipping
tries are made with the aid of the agent.
Agent/producer - ANS-acts as a criminal consultant
of the coverage organization
Agreement = - ANS-provide + attractiveness
Aleatory - ANS-When one party or every other has the capability to recieve dramatically
exceptional level of benefits relative to the price of receiving those benifits
Annual forestall-loss restrict - ANS-A measure that limits the most quantity for which the
insurance may be chargeable for in a said time period.
Annually renewable time period - ANS-After the extent term coverage can enlarge coverage
without imparting proof of insurability. The top class will pass up each 12 months, due to better
attained age and no proof of insurability. Max age of sixty five.
Reentry term - Two top rate levels for renewal for those who can show insurability and for folks
who cant
Annuity certain options - ANS-Either the term payments might be received or the quantity of
every price, to be determined via the annuitant.
Annuity settlement alternative - ANS-...
Assignment - ANS-Having payments move directly from health care corporations to the carriers
at with the permission of the insured
challenge clause - ANS-The procedure through which the transfer is completed
