2024 FLORIDA LIFE HEALTH AND ANNUITIES 215 450 QUESTIONS AND CORRECT DETAILED ANSWERS UPDATE ALREADY A GRADED|NEW!! Accidental death benefit rider - CORRECT ANSWERTwice (or three times) the benefit will be paid if the insured dies in an accid

2024 FLORIDA LIFE HEALTH AND ANNUITIES 215 450 QUESTIONS AND CORRECT DETAILED ANSWERS UPDATE ALREADY A GRADED|NEW!! Accidental death benefit rider - CORRECT ANSWERTwice (or three times) the benefit will be paid if the insured dies in an accident Accidental dismemberment - CORRECT ANSWERLoss of a body part-state test actual loss not just loss of use Accidental means provision - CORRECT ANSWERBenefit only paid when the insured was not in control of the accident Accidental results provision - CORRECT ANSWERBenefit paid when accident occurred because of any means; it just happened! Accident and health insurance - CORRECT ANSWERCoverage for an insured disabled by accident or illness Accumulation unit - CORRECT ANSWERPurchased by premiums paid into variable annuity during the annuitants working years Acute illness - CORRECT ANSWERThe one category of serious illness where the patient can fully recover Adhesion - CORRECT ANSWERWhere all specifications of forms, brochures, and contracts are pre-approved by the state Adjustable life insurance - CORRECT ANSWERA combination term and whole life policy where it is easy to change various factors Administration services only (ASO) - CORRECT ANSWERInsurance company insists only with the paperwork for self-insureds Admitted insurer - CORRECT ANSWERCompany approved, authorized, admitted, certified to do business in the state Adult daycare - CORRECT ANSWERWhere Alzheimers or similar patients can be monitored and receive care during the day Adverse selection - CORRECT ANSWERpoor choices made by an underwriter when selecting risks Advertising code - CORRECT ANSWERWhat's ok and what's NOT okay in advertising... found inside the Unfair Trade Practices Act Agency - CORRECT ANSWERAn office established for the purpose of selling insurance within the state ZoomWords - CORRECT ANSWERA list of the important terms to be understood in preparing for the insurance exams Yearly Renewable Term Insurance (YRT) - CORRECT ANSWERThe same as annually renewable term (ARTs) Absolute assignment - CORRECT ANSWEROwnership is assigned to another person permanently unless intentionally returned Accelerated benefits rider - CORRECT ANSWERProviding death benefits ahead of time of death when insured is terminally ill Acceptance - CORRECT ANSWEROffer has been made and accepted by the company, or by the client if counter-offer was made Accidental bodily injury provision - CORRECT ANSWERBenefits payable when injured by accidental means Accidental death and dismemberment - CORRECT ANSWERA plan specifically for accidental death or loss of body parts Agent - CORRECT ANSWERAny licensed person who solicits insurance on behalf of an insurance company Agent's report - CORRECT ANSWERPart 3 of the application where the agent enters his/her comments regarding the transaction Aleatory - CORRECT ANSWERA chance/risk for both of the parties. It never works out to be equal Alien insurer - CORRECT ANSWERInsurance company is located outside the USA Ambulatory surgery - CORRECT ANSWERA neighborhood clinic commonly less expensive than the costs from a hospital American agency system - CORRECT ANSWERthe same as the independent agency system Annually renewable term (ART) - CORRECT ANSWERA term policy where the premium gradually increases annually by age Annuitant - CORRECT ANSWERThe owner of an annuity Annuity - CORRECT ANSWERA savings product created for the purpose of a lifetime income - liquidating a sum of money Annuity units - CORRECT ANSWERThe calculated value of the payout portion of the contract in a variable annuity Any occupation - CORRECT ANSWERThe category of work where the insured is able to perform some/any occupation Apparent authority - CORRECT ANSWERBased on what the company has provided to their agents -they can use the material Application - CORRECT ANSWERUsed to ask questions to provide underwriters with a means of determining data and risks Appointment - CORRECT ANSWERA licensed agent must also be appointed by their company in order to sell insurance Approval receipt - CORRECT ANSWERA conditional receipt, which becomes effective only when approved by the insurer Assessment mutual insurer - CORRECT ANSWERAn insurer, which assesses other policyholders when a claim occurs Assignment - CORRECT ANSWERA policy can be assigned to a different owner without approval from beneficiaries or the insurer Attained age - CORRECT ANSWERWhen converting from a term to whole life policy and using the current age reached Authority - CORRECT ANSWERAgent receives expressed (written), implied (business), apparent (what the company has provided) Authorized company - CORRECT ANSWERsee admitted company