Michigan Life And Health Insurance Exam

Accelerated Benefits - Answer- Riders attached to life insurance policies which allow death benefits to be used to cover nursing or convalescent home expenses. accident - Answer- An unplanned unforeseen event, which occurs suddenly and an unspecific place accident insurance - Answer- A type of insurance that protects the insured against loss due to accidental bodily injury. Accidental Bodily Injury - Answer- Unplanned, unforeseen traumatic injury to the body. Accidental death and dismemberment AD&D - Answer- An insurance policy which pays a specified amount or a specified multiple of the insured's benefit if the insured dies, loses his/her sight, or loses two limbs due to an accident. Accidental death benefits - Answer- A policy rider that states that the cause of death will be analyzed to determine if it complies with the policy description of accidental death. Accidental death insurance - Answer- An insurance policy that provides payment if the insured's death is the result of an accident. Accumulation Period - Answer- The time over which the annuitant makes payments or investments in an annuity And when those payments earn interest tax deferred Acquired immunodeficiency system (AIDS) - Answer- Infectious an incurable disease caused by the human immunodeficiency virus HIV activities of daily living (ADLs) - Answer- Activities individuals must do every day such as moving about, getting dressed, eating, bathing, etc. Actual Cash Value (ACV) - Answer- The required amount to pay damages or for property loss, which is calculated based on the property's current replacement value minus depreciation. Actual Charge - Answer- The amount a physician or supplier actually bills for a particular service or supply. Actuary