Arkansas Life Insurance Bundled Exams with complete solution | everything you need

If an agent makes a correction on the application for health insurance, who must initial the correct answer? - The applicant What is the term used for a written request for an insurer to issue an insurance contract based on the provided information? - Application What information are the members...

Accident - An unplanned, unforeseen event which occurs suddenly and at an unspecified place. Accident Insurance - A type of insurance that protects the insured against loss due to accidental bodily injury. Accidental Bodily Injury - Unplanned, unforeseen traumatic injury to the body. Accidental ...

Which of the following is not true regarding a noncancellable policy? a) insured has the unilateral right to renew the policy for the life of the contract, and may discontinue paying premiums to cancel it b) insurer can increase the premium above what is stated in the policy if claims experience ...

The Commissioner of insurance has all of the following duties and powers, except: a. The insurance Commissioner may update the insurance code (law) as needed b. The Commissioner regulates premium rates c. The Commissioner may institute court proceedings to enforce the Insurance Code d. The Commi...

Adverse Selection - Insuring of risks that are more prone to losses than the average risk. Death Benefit - The amount paid upon the death of the insured in a life insurance policy. Insurance Policy - A contract between a policyowner/insured and an insurance company which agrees to pay the insured...

Accelerated Benefits - Riders attached to life insurance policies which allow death benefits to be used to cover nursing or convalescent home expenses. Accidental Death Benefits - A policy rider that states that the cause of death will be analyzed to determine if it complies with the policy descr...