Life, Accident and Health Exam Questions with highest ratings

Annuity - ANSWER--A contract between a person and an insurance company that requires the insurer to make payments to you. -You buy an annuity by making either a single payment or a series of payments -Annuity Death benefits are NOT tax deductible or taxfree Dividends - ANSWER--Declared by the board of directors and cannot be guaranteed -A sum of money paid regularly by a company to its shareholders out of its profits Stock Insurers - ANSWER--Owned by the stockholders who elect the board of directors. -Profits are paid to the stockholders. Frequency - ANSWER--When the pricing principle is defined in a disability policy by a financial loss in a certain group occuring over a certain period of time. Beneficiary - ANSWER-One who receives benefits Medi-Cal - ANSWER-health care program for the poor Medicare - ANSWER-A - provides coverage for hospital services, free to those who reach 65) B - provides coverage for doctor services (optional) C - does NOT cover prescription drugs D - Prescription Drugs Utmost Good Faith - ANSWER--Allows each party to rely on the representation made by other party