New York Life, Accident and Health Insurance Exam Questions And Answers Graded A+

Accelerated Benefits - Riders attached to life insurance policies which allow death benefits to be used to cover nursing or convalescent home expenses. Accident - An unplanned, unforeseen event which occurs suddenly and at an unspecified place. Accident Insurance - A type of insurance that protects the insured against loss due to accidental bodily injury. Accidental Bodily Injury - Unplanned, unforeseen traumatic injury to the body. Accidental Death and Dismemberment (AD&D) - 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 - 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 - An insurance policy that provides payment if the insured's death is the result of an accident. Accumulation Period - The time over which the annuitant makes payments or investments in an annuity, and when those payments earn interest tax deferred. Acquired Immunodeficiency Syndrome (AIDS) - An infectious and incurable disease caused by the human immunodeficiency virus (HIV). Activities of Daily Living (ADLs) - Activities individuals must do every day such as moving about, getting dressed, eating, bathing, etc.Actual Cash Value (ACV) - 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 - The amount a physician or supplier actually bills for a particular service or supply. Actuary - A person trained in the technical aspects of insurance and related fields, particularly in the mathematics of insurance; a person who, on behalf of the company, determines the mathematical probability of loss. Adhesion - A contract offered on a "take-it-or-leave-it" basis by an insurer, in which the insured's only option is to accept or reject the contract. Any ambiguities in the contract will be settled in favor of the insured. Adjustable Life - Life insurance which permits changes in the face amount, premium amount, period of protection, and the duration of the premium payment period.