WA LIFE & HEALTH INSURANCE LICENSE
20-Pay Whole Life - ANS-so as for the coverage to pay the loss of life benefit to a beneficiary,
the premiums must be paid for 20 YEARS or until demise whichever takes place first
ninety days - ANS-any character receiving written notification of the Commissioner's order has
ninety days to Respond and REQUEST a listening to
Accelerated Living Benefits - ANS-permit the early fee of a portion o the death advantage
twist of fate loss of life benefits - ANS-most regulations will pay the coincidence loss of life
benefits so long as the dying is because of the coincidence and occurs within 90days
accidental death - ANS-is considered double indemnity
Accidental Death & Dismemberment rider - ANS-pays for unintentional losses best & is taken
into consideration a natural shape of twist of fate insurance
Principal Sum is paid for unintended death (FACE quantity)
within the case of unintended dismemberment or lack of sight in a single eye a percentage of
that most important sum may be paid (CAPITAL Sum)
accumulation duration - ANS-additionally called the pay-in length is the time period over which
the owner makes payments (premiums) into an annuity; the time period in the course of which
the bills earn hobby on a tax-deferred basis
Additional Monthly Benefit (AMB) - ANS-some coverage companies offer AMB rider in the
approximate amount that social protection could pay; the benefit is ONLY provided for 1 YEAR!
It is then expected that social protection benefits might begin on the end of the year
Adjustable existence - ANS-turned into developed to be able to offer the coverage proprietor
with the fine of both worlds (time period & everlasting insurance); sort of investment can not be
changed via the coverage owner; the insured commonly determines how an awful lot coverage
is wanted and because the insured's wishes exchange the coverage owner could make
adjustments in his or her coverage
admitted - ANS-is the nearest term to a licensed insurer; insurers who meet the nation's
financial necessities
Alien - ANS-out of the U.S. (other u . S .)
Annually Renewable Term - ANS-is the least steeply-priced; five year top rate payout
,Annually renewable term insurance - ANS-it's far stage time period coverage; yearly renewable
time period is a shape of stage time period insurance that gives the maximum coverage at the
lowest price; PUREST form of term coverage; the demise advantage remains level, but the top
class will increase each year with the insured's attained age.
Annuitization date - ANS-is the time whilst the annuity gain payouts start (trigger for
advantages)
Annuity - ANS-is a agreement that provides earnings for a exact duration of years or for life;
protects a person towards outliving his or her money; annuities do not pay a face amount upon
the demise of the annuitant in fact the do the alternative - in maximum cases the bills stop upon
the loss of life of the annuitant
annuity period AKA annuitization length - ANS-liquidation duration or pay-out period is the time
which the sum that has been gathered throughout the accumulation period is transformed right
into a circulation of income payments to the annuitant
Any Occupation - ANS-provision will best provide blessings while the insured is unable to carry
out any of the duties of the profession for which they're proper by way of cause of education,
training, or experience
ART-Annualy Renewable Term - ANS-is the purest form of time period insurance; dying
advantage stays stage & the coverage may be assured to be renewable every 12 months with
out proof of insurability but the top rate increases yearly in step with the educated age as the
chance of dying increases
Attending Physician's Statement (APS) - ANS-the insurance business enterprise must pay for
this data however it's miles often much less luxurious than ordering an exam
Beneficiary - ANS-is the man or woman or interest to which the coverage proceeds might be
paid upon the dying of the insured
benefit duration - ANS-refers to the length of time over which the monthly incapacity gain bills
will last for each incapacity after the removal duration has been happy; most offer 1 12 months,
2 years, 5 years & to age 65; the lengthy the gain duration, the higher the top class could be
binding receipt - ANS-type of receipt that makes the insurer responsible for the danger from the
date of the utility, irrespective of the applicant's insurability
Business Overhead expense (BOE) - ANS-precise type of policy sold to small business owners
who must preserve to meet overhead costs which includes rent, utilities, worker salaries,
installment purchases, leased gadget, ect. Following a incapacity
, Buy-promote agreement - ANS-is a prison settlement that determines what is going to be
finished with a business inside the event that an proprietor dies or becomes disabled
Buyer's Guide - ANS-is a widespread manual that explains existence insurance in a manner that
the common customer can apprehend, and does not cope with specific rules of the insurer
capital sum - ANS-unintentional dismemberment to loss of sight in one eye
capitated foundation - ANS-HMOs function on a capitated foundation: the HMO receives a flat
amount every month attributed to each member, whether or not they see a physician or now not
(in essence it's miles a prepaid scientific plan-as a member of the plan you will acquire all
offerings important from the member physicians and hospitals)
Cash Surrender Value - ANS-rider creates a coins cost of round 70% of the rates paid in extra of
claims; this coins price is regularly ONLY to be had to the proprietor on the termination of the
agreement
certificate of coverage - ANS-every insured player beneath the group plan is issued a
certificates of coverage
Claims bureaucracy - ANS-upon receipt of a word of declare, the organization have to supply
claims bureaucracy to the insured within typically 15 days
Coinsurance - ANS-most essential clinical rules encompass a coinsurance provision that offers
for the sharing of costs between the insured and the insurance agency; after the insured
satisfies the coverage deductible, the coverage business enterprise will commonly pay the
majority of the expenses - commonly eighty%
Comprehensive Coverage - ANS-comprehensive care regulations are the ones plans that offer
insurance for maximum sorts of clinical fees; normally consists of preventive care, routine
physicals, immunizations, outpatient services & hospitalizations which includes HMOs
Concurrent Review - ANS-the coverage employer will reveal the insured's health center live to
ensure that the entirety is proceeding in step with insured's hospital stay to make sure that the
whole thing is proceeding consistent with time table & that the insured can be released from
health facility as deliberate
conditional receipt - ANS-is the maximum not unusual sort of receipt; that is used best when the
applicant submits a pay as you go application
conditionally renewable - ANS-insurer might also terminate the agreement simplest at renewal
for certain conditions which can be stipulated in the contract
Consideration Clause - ANS-some thing of value must be exchanged
20-Pay Whole Life - ANS-so as for the coverage to pay the loss of life benefit to a beneficiary,
the premiums must be paid for 20 YEARS or until demise whichever takes place first
ninety days - ANS-any character receiving written notification of the Commissioner's order has
ninety days to Respond and REQUEST a listening to
Accelerated Living Benefits - ANS-permit the early fee of a portion o the death advantage
twist of fate loss of life benefits - ANS-most regulations will pay the coincidence loss of life
benefits so long as the dying is because of the coincidence and occurs within 90days
accidental death - ANS-is considered double indemnity
Accidental Death & Dismemberment rider - ANS-pays for unintentional losses best & is taken
into consideration a natural shape of twist of fate insurance
Principal Sum is paid for unintended death (FACE quantity)
within the case of unintended dismemberment or lack of sight in a single eye a percentage of
that most important sum may be paid (CAPITAL Sum)
accumulation duration - ANS-additionally called the pay-in length is the time period over which
the owner makes payments (premiums) into an annuity; the time period in the course of which
the bills earn hobby on a tax-deferred basis
Additional Monthly Benefit (AMB) - ANS-some coverage companies offer AMB rider in the
approximate amount that social protection could pay; the benefit is ONLY provided for 1 YEAR!
It is then expected that social protection benefits might begin on the end of the year
Adjustable existence - ANS-turned into developed to be able to offer the coverage proprietor
with the fine of both worlds (time period & everlasting insurance); sort of investment can not be
changed via the coverage owner; the insured commonly determines how an awful lot coverage
is wanted and because the insured's wishes exchange the coverage owner could make
adjustments in his or her coverage
admitted - ANS-is the nearest term to a licensed insurer; insurers who meet the nation's
financial necessities
Alien - ANS-out of the U.S. (other u . S .)
Annually Renewable Term - ANS-is the least steeply-priced; five year top rate payout
,Annually renewable term insurance - ANS-it's far stage time period coverage; yearly renewable
time period is a shape of stage time period insurance that gives the maximum coverage at the
lowest price; PUREST form of term coverage; the demise advantage remains level, but the top
class will increase each year with the insured's attained age.
Annuitization date - ANS-is the time whilst the annuity gain payouts start (trigger for
advantages)
Annuity - ANS-is a agreement that provides earnings for a exact duration of years or for life;
protects a person towards outliving his or her money; annuities do not pay a face amount upon
the demise of the annuitant in fact the do the alternative - in maximum cases the bills stop upon
the loss of life of the annuitant
annuity period AKA annuitization length - ANS-liquidation duration or pay-out period is the time
which the sum that has been gathered throughout the accumulation period is transformed right
into a circulation of income payments to the annuitant
Any Occupation - ANS-provision will best provide blessings while the insured is unable to carry
out any of the duties of the profession for which they're proper by way of cause of education,
training, or experience
ART-Annualy Renewable Term - ANS-is the purest form of time period insurance; dying
advantage stays stage & the coverage may be assured to be renewable every 12 months with
out proof of insurability but the top rate increases yearly in step with the educated age as the
chance of dying increases
Attending Physician's Statement (APS) - ANS-the insurance business enterprise must pay for
this data however it's miles often much less luxurious than ordering an exam
Beneficiary - ANS-is the man or woman or interest to which the coverage proceeds might be
paid upon the dying of the insured
benefit duration - ANS-refers to the length of time over which the monthly incapacity gain bills
will last for each incapacity after the removal duration has been happy; most offer 1 12 months,
2 years, 5 years & to age 65; the lengthy the gain duration, the higher the top class could be
binding receipt - ANS-type of receipt that makes the insurer responsible for the danger from the
date of the utility, irrespective of the applicant's insurability
Business Overhead expense (BOE) - ANS-precise type of policy sold to small business owners
who must preserve to meet overhead costs which includes rent, utilities, worker salaries,
installment purchases, leased gadget, ect. Following a incapacity
, Buy-promote agreement - ANS-is a prison settlement that determines what is going to be
finished with a business inside the event that an proprietor dies or becomes disabled
Buyer's Guide - ANS-is a widespread manual that explains existence insurance in a manner that
the common customer can apprehend, and does not cope with specific rules of the insurer
capital sum - ANS-unintentional dismemberment to loss of sight in one eye
capitated foundation - ANS-HMOs function on a capitated foundation: the HMO receives a flat
amount every month attributed to each member, whether or not they see a physician or now not
(in essence it's miles a prepaid scientific plan-as a member of the plan you will acquire all
offerings important from the member physicians and hospitals)
Cash Surrender Value - ANS-rider creates a coins cost of round 70% of the rates paid in extra of
claims; this coins price is regularly ONLY to be had to the proprietor on the termination of the
agreement
certificate of coverage - ANS-every insured player beneath the group plan is issued a
certificates of coverage
Claims bureaucracy - ANS-upon receipt of a word of declare, the organization have to supply
claims bureaucracy to the insured within typically 15 days
Coinsurance - ANS-most essential clinical rules encompass a coinsurance provision that offers
for the sharing of costs between the insured and the insurance agency; after the insured
satisfies the coverage deductible, the coverage business enterprise will commonly pay the
majority of the expenses - commonly eighty%
Comprehensive Coverage - ANS-comprehensive care regulations are the ones plans that offer
insurance for maximum sorts of clinical fees; normally consists of preventive care, routine
physicals, immunizations, outpatient services & hospitalizations which includes HMOs
Concurrent Review - ANS-the coverage employer will reveal the insured's health center live to
ensure that the entirety is proceeding in step with insured's hospital stay to make sure that the
whole thing is proceeding consistent with time table & that the insured can be released from
health facility as deliberate
conditional receipt - ANS-is the maximum not unusual sort of receipt; that is used best when the
applicant submits a pay as you go application
conditionally renewable - ANS-insurer might also terminate the agreement simplest at renewal
for certain conditions which can be stipulated in the contract
Consideration Clause - ANS-some thing of value must be exchanged
