Loma 281 Study guides, Class notes & Summaries

LOMA 281: Meeting Customer Needs with Insurance Annuities Verified by Experts Questions and Answers 2024

LOMA 281 Module 2 with Complete Solutions Which type of whole life insurance policy will best be able to give Arabella lifetime protection without straining her retirement income? Single-premium whole life policy Limited-payment whole life policy Continuous-premium whole life policy - Answer-B Financial needs life insurance can meet - Answer-- paying household expenses - covering outstanding debts - Paying outstanding medical, hospital, and funeral expenses, - providing financia...

LOMA 281 Module 4 Study Questions and Answers verified by experts 100%

LOMA 281: Meeting Customer Needs with Insurance Annuities Test || Questions & Answers 100% VerifiedLOMA 281: Meeting Customer Needs with Insurance Annuities Test || Questions & Answers 100% VerifiedLOMA 281: Meeting Customer Needs with Insurance Annuities Test || Questions & Answers 100% VerifiedLOMA 281: Meeting Customer Needs with Insurance Annuities Test || Questions & Answers 100% Verified

LOMA 281 Module 2 Latest Version Graded A+ Term Life insurance Insurance that provides a policy benefit if the insured dies during a specified period of time. Policy term The specified period of time for which a term life insurance policy provides coverage. Level Term life insurance A plan of term life insurance that provides a policy benefit that remains the same over the term of coverage. Decreasing term life insurance A plan of term life insurance that provides a policy bene...

LOMA 281 Module 1 Latest Update Graded A+ Risk the possibility of an unexpected result. Premium A specified amount of money an insurer charges in exchange for its agreement to pay a policy benefit when a specific loss occurs. Insurance company A company that provides protection against the risk of financial loss caused by specific events. Life insurance A type of insurance under which the insurer promises to pay a death benefit upon the death of a named person. Annuity A fin...

LOMA 281 Module 4 Questions with Correct Answers Group Insurance - Answer-A method of providing life or health insurance coverage for a group of people under one insurance contract. commonly provide: - life insurance, medical expense insurance, disability insurance, and dental insurance coverage Master group insurance contract - Answer-An insurance contract that insures a number of people. Group insured - Answer-An individual covered by a group insurance policy. Group policyholder...

LOMA 281 Module 2 Exam || Questions & Answers (Graded A)LOMA 281 Module 2 Exam || Questions & Answers (Graded A)LOMA 281 Module 2 Exam || Questions & Answers (Graded A)LOMA 281 Module 2 Exam || Questions & Answers (Graded A)

LOMA 281 Practice Test with Complete Solutions Pure risk - Answer-Risks that involve either a loss or no loss Speculative risk - Answer-Risk that can result in a loss, gain or no change Insurance - Answer-A method for transferring risk from an individual to an insurance company Premium - Answer-The amount that the insured pays in exchange for a promise of money Risk pooling - Answer-Insurers collect premiums from all insured people and spread the cost of the relatively few anticip...

LOMA 281: Module 1 Lesson 1 - Risk and Insurance Comprehensive Exam || Questions & Answers (Graded A) LOMA 281: Module 1 Lesson 1 - Risk and Insurance Comprehensive Exam || Questions & Answers (Graded A) LOMA 281: Module 1 Lesson 1 - Risk and Insurance Comprehensive Exam || Questions & Answers (Graded A)