California Insurance Pre-Licensing - Life Limited to Final Expense Exam Questions & Answers 100% Accurate

Guaranteed Renewable Insurance Contract - ANSWER-A life or health insurance policy that cannot be changed, except for the rate. Double Indemnity - ANSWER-A policy rider that doubles the death benefit if the insured dies in an accident Common Disaster Clause - ANSWER-Protects the beneficiaries when the insured and beneficiary die in the same accident. Noncontributory Benefits - ANSWER-A life or health insurance plan that an employer provides for employees in, which the employee does not pay any part of the premium Cash Surrender Value (CSV) - ANSWER-The values in a permanent policy that the policy owner is entitled if hes/she no longer wants the policy Consolidated Omnibus Budget Reconciliation Act (COBRA) - ANSWER-Federal law related to employee benefits, especially continuation of health insurance benefits based on certain triggering events: job loss, or death of spouse. Insurable Insterest - ANSWER-A reason for having an insurance policy, usually a financial interest either sowing or proving Endowment - ANSWER-In life insurance, the cash value equal the face amount Implied Authority - ANSWER-Authorization to do something eve though it is not in writing Beneficiary - ANSWER-The person who receives the proceed or benefits from the insurance policy