California Life, Accident, and Health Study guides, Class notes & Summaries

FInal Exam: California Life, Accident, and Health Insurance Answers 2023

What distinguishes a deferred annuity from an immediate annuity? - The time at which benefit payments start Cindy buys a 10-year certain annuity with an installment refund. After receiving monthly payments for 5 years, Cindy dies. How many remaining payments will the insurer make to her beneficiary? - 60 payments

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FInal Exam: California Life, Accident, and Health Insurance Q&A What distinguishes a deferred annuity from an immediate annuity? - CORRECT ANSWER - The time at which benefit payments start Cindy buys a 10-year certain annuity with an installment refund. After receiving monthly payments for 5 years, Cindy dies. How many remaining payments will the insurer make to her beneficiary? - CORRECT ANSWER - 60 payments What is a common reason people purchase an annuity? - CORRECT ANSWER - To ...

Which of the following is not protected under the California life and health guarantee association? - Insurers The California insurance code allows an individual how many days to cancel life policy for full refund? - Between 10 and 30 days Which of the following is not typically covered under vision care insurance? - Eye Surgery How long is a person expected to be disabled in order to receive Social Security disability benefits? - 12 months According to PPACA, what is a health benefits ex...

The systematic liquidation of a sum of money is provided by a(n) - annuity An annuitant would like to determine the current value of her annuity. To do this, she multiplies the number of "accumulation units" she owns times the unit value of the "separate account". What kind of annuity BEST matches this description? - Variable annuity What kind of annuity pays income to two annuitants until their deaths? - Joint and survivor annuity

Final Exam: California Life, Accident, and Health Insurance Complete Guide The systematic liquidation of a sum of money is provided by a(n) annuity An annuitant would like to determine the current value of her annuity. To do this, she multiplies the number of "accumulation units" she owns times the unit value of the "separate account". What kind of annuity BEST matches this description? Variable annuity What kind of annuity pays income to two annuitants until their deaths? Joint an...

FInal Exam: California Life, Accident, and Health Insurance All Answers Correct What distinguishes a deferred annuity from an immediate annuity? The time at which benefit payments start Cindy buys a 10-year certain annuity with an installment refund. After receiving monthly payments for 5 years, Cindy dies. How many remaining payments will the insurer make to her beneficiary? 60 payments What is a common reason people purchase an annuity? To protect against the risk of outliving th...