HS 311 Fundamentals of Insurance Planning –
Questions With Appropriate Solutions
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Terms in this set (91)
a priori reasoning reasoning with conclusions that are based on self-
evident propositions (also known as deductive
reasoning). One can reason a priori that the
probability of a result of tails in the flip of a coin is one
in two.
AAIS (American Association of an advisory organization that provides various
Insurance Services) services to its member companies, including the
development and filing of standardized property and
liability insurance forms
accelerated benefits provision a provision in a life insurance policy that allows death
benefits to be paid to the policyowner prior to the
insured's death under certain circumstances such as if
the insured is terminally ill
, accidental death benefit rider a life insurance rider that increases the death benefit,
usually doubling it, if the insured dies accidentally
accumulation period the time period within which expenses used to satisfy
a per-cause deductible must be incurred for each
illness or accident
accumulation unit a specific segment of invested funds in a deferred
variable annuity that will increase with investment
performance; it is similar to the net asset value of a
mutual fund
active-at-work requirement a provision in a group insurance master contract
specifying that the employee is not eligible for
coverage if he or she is not actively on the job on the
otherwise effective date of coverage. Coverage
commences when the employee returns to work.
activities of daily living (ADLs) the criteria used to establish benefit eligibility under a
long-term care contract- in other words, the telling
signs of the need for nursing home care. They include
eating, bathing, dressing, transferring from bed to
chair, using the toilet, and maintaining continence.
actual cash value replacement cost less a reduction for depreciation
and/or obsolescence
add-on plan a no-fault type of auto insurance system that makes
first-party benefits available but does not restrict the
right to sue for damages
additional living expenses the extra costs of maintaining a family's standard of
living while the family's residence is being repaired or
rebuilt following a covered loss. covered by
homeowners policies.
Questions With Appropriate Solutions
Add to calendar
Play your way to mastery with fun games
Match Blocks Charms NEW
Terms in this set (91)
a priori reasoning reasoning with conclusions that are based on self-
evident propositions (also known as deductive
reasoning). One can reason a priori that the
probability of a result of tails in the flip of a coin is one
in two.
AAIS (American Association of an advisory organization that provides various
Insurance Services) services to its member companies, including the
development and filing of standardized property and
liability insurance forms
accelerated benefits provision a provision in a life insurance policy that allows death
benefits to be paid to the policyowner prior to the
insured's death under certain circumstances such as if
the insured is terminally ill
, accidental death benefit rider a life insurance rider that increases the death benefit,
usually doubling it, if the insured dies accidentally
accumulation period the time period within which expenses used to satisfy
a per-cause deductible must be incurred for each
illness or accident
accumulation unit a specific segment of invested funds in a deferred
variable annuity that will increase with investment
performance; it is similar to the net asset value of a
mutual fund
active-at-work requirement a provision in a group insurance master contract
specifying that the employee is not eligible for
coverage if he or she is not actively on the job on the
otherwise effective date of coverage. Coverage
commences when the employee returns to work.
activities of daily living (ADLs) the criteria used to establish benefit eligibility under a
long-term care contract- in other words, the telling
signs of the need for nursing home care. They include
eating, bathing, dressing, transferring from bed to
chair, using the toilet, and maintaining continence.
actual cash value replacement cost less a reduction for depreciation
and/or obsolescence
add-on plan a no-fault type of auto insurance system that makes
first-party benefits available but does not restrict the
right to sue for damages
additional living expenses the extra costs of maintaining a family's standard of
living while the family's residence is being repaired or
rebuilt following a covered loss. covered by
homeowners policies.
