2-14 Insurance License Exam questions and answers

2-14 Insurance License Exam questions and answers 401K Plan - answer-A qualified retirement plan in which the employee can set aside a portion of their income with pre-tax dollards Absolute Assigment vs. Collateral Asssigment - answer-Absolute: A permanent and irrevocable transfer of rights and/or benefits by the policyowner. Collateral: A temporary and/or revocable transfer of benefits by the policyowner. Accelerated Death Benefit - answer-Policy provision that allows full or partial payment of the policy's death benefit before the insured's death if he/she is terminally ill. Accidental Death Benefit - answer-An extra cost rider that requires the insurance company to pay an additional benefit in the event that the insured dies within 90 days of an accident as a direct result of the accident. Accumulate at Interest - answer-The Dividend Option where the policyowner leaves the dividens with the insurer to invest and earn interest Adhesion - answer-Since the insurer created all the documents of the contract, any ambiguities in the contract will be settled in favor of th