2024 FLORIDA LIFE HEALTH AND ANNUITIES 2- 15 450 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 acc

2024 FLORIDA LIFE HEALTH AND ANNUITIES 2- 15 450 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 Automatic premium loan provision - CORRECT ANSWERPremium received from cash value of a policy when client can't be found Average indexed monthly earnings (AIME) - CORRECT ANSWERUsed in the calculation of the Social Security PIA Average monthly wage (AMW) - CORRECT ANSWERUsed in calculating the AIME above enroute to obtaining the PIA Aviation exclusion - CORRECT ANSWERExcluding the client from coverage while flying if the client is not a fare paying passenger (pilot) Backdating - CORRECT ANSWERUsing an earlier birth date as the policy effective date to save age - backwards up to 6months Basic medical expense policy - CORRECT ANSWERMedical coverage known as first dollar - hospital, surgeon, non-surgeon, Beneficiary - CORRECT ANSWERThe person or persons receiving a benefit from the policy Benefit - CORRECT ANSWERThe amount determined ahead of time to compensate, or covering for a loss to the insured Benefit period - CORRECT ANSWERThe maximum amount of time that policy benefits will be paid Best's dating - CORRECT ANSWEROne of the rating companies who rate the insurance industry regarding strength and stability Binding receipt - CORRECT ANSWERConditionally coverage valid until the company declines the insured, or until policy is issued Blackout period - CORRECT ANSWERFrom the time the youngest child own the family turns 16 until the spouse turns 60 Blanket policy - CORRECT ANSWERAn umbrella type of policy covering a group in motion - transportation company/public event Broker - CORRECT ANSWERAn independent insurance agent who represents the client and arranges coverage with a company Burial plan - CORRECT ANSWERThe same as debit policies, industrial insurance, and home service insurance; see home service Business continuation plan - CORRECT ANSWERUsing insurance as a means of coverage for an owner or employee of a business