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

What distinguishes a deferred annuity from an immediate annuity? - 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? - ANSWER 60 payments What is a common reason people purchase an annuity? - ANSWER To protect against the risk of outliving their financial resources What kind of annuity p...

California Life, Accident, and Health Insurance questions and answers latest [100% correct answers]

Final Exam: California Life, Accident, and Health Insurance What is considered the most common type of specified disease insurance policy? Cancer Minimum participation standards exist for a group health insurance plans in order to Prevent Adverse Selection How does underwriting differ between group life and individual life insurance? Medical questions must be answered on individual life insurance when handling premiums for an insured an agent is acting in which capacity? Fiduciary what ...

California Life, Accident, and Health Insurance questions and answers latest [100% correct answers]

Final Exam: California Life, Accident, and Health Insurance What is considered the most common type of specified disease insurance policy? Cancer Minimum participation standards exist for a group health insurance plans in order to Prevent Adverse Selection How does underwriting differ between group life and individual life insurance? Medical questions must be answered on individual life insurance when handling premiums for an insured an agent is acting in which capacity? Fiduciary what ...

FInal Exam: California Life, Accident and Health Insurance Questions and Answers Solved 100% Correct!!

What distinguishes a deferred annuity from an immediate annuity? - 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? - Answer-60 payments What is a common reason people purchase an annuity? - Answer-To protect against the risk of outliving their financial resources What kind of annuity pays income to ...

According to the California Insurance Code, what term is used to describe a fact so important it could affect the policy premium? - ANSWERMateriality Which of the following is NOT a life insurance settlement option? - ANSWERExtended Term Option True answer- Life income option, Fixed amount option, Lump Sum option Major Medical expense plans typically use a cost containment measure for emergency care. This is refereed to as a - ANSWERDeductible Which type of risk is gambling? - ANSWE...

The systematic liquidation of a sum of money is provided by a(n) - ANSWERannuity 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? - ANSWERVariable annuity What kind of annuity pays income to two annuitants until their deaths? - ANSWERJoint and survivor annuity What distinguishes a deferred ann...

What is considered the most common type of specified disease insurance policy? - ANSWERCancer Minimum participation standards exist for a group health insurance plans in order to - ANSWERPrevent Adverse Selection How does underwriting differ between group life and individual life insurance? - ANSWERMedical questions must be answered on individual life insurance when handling premiums for an insured an agent is acting in which capacity? - ANSWERFiduciary what is the term used to descr...