Florida Life, Health and Variable Annuity Exam Review Questions and Correct Answers

Florida Life, Health and Variable Annuity Exam Review Questions and Correct Answers Categories of Life Insurance Ordinary, Industrial and Group Ordinary Life is individual life insurance that includes many types of TERM and PERMANENT insurance and is usually paid with monthly premiums. Is the principal type of life insurance purchased in the United States. Industrial Insurance small issue amounts with premiums collected weekly or monthly by agents at policyowner's home. Also known as BURIAL INSURANCE Group Insurance written for employer-employee groups to provide coverage for a number of individuals under one contract. Underwriting is based on the group and not the individual. Premiums are lower but when you leave it gets expensive. Term Life Insurance simplest type of life insurance, provides insurance protection for a specified period and pays a benefit only if the insured dies during the period. Like renting your insurance but it's more affordable but as you get older it goes up.(No Equity)