Traditional Whole Life - Answer -Ordinary (Straight) Life -Limited-Pay & Single-Premium Whole Life -Adjustable Whole Life Ordinary (Straight) Life - Answer -Until 100 or Death, whichever comes first -Permanent Protection -Rates & benefits based on law of large numbers (Mortality Rate) -Guaranteed, tax-deferred interest rate -Premium level, company's risk goes down as cash value goes up -Insurer keeps the cash value if death to offset risk -Lowest net cost in long run -Client h...

Which type of long-term care benefit would be most appropriate for a stroke victim who requires speech therapy administered at her home? - Answer Home health care Which of the following is NOT a federal requirement of a qualified plan? - Answer Employee must be able to make unlimited contributions Why are dividends from a mutual insurer not subject to taxation? - Answer Because dividends are considered to be a return of premium The treasurer of XYZ Insurance Company discovers that...

adhesion - Answer (take it or leave it) no changing the contract. take it as is. aleatory contract - Answer (uneven) You will never pay as much in premium as what you get in coverage peril - Answer died of a certain way Hazard - Answer cause of loss Variable Universal Life - Answer requires FINRA license the difference between insure vs. insured - Answer Insure (must pay policy benefit "the company") insured (the customer) S & P 500 - Answer Equity index annuity...

According to the Time Payment of Claims provision, the insurer must make the payment immediately after receiving proof of loss EXCEPT: - if the insured is able to eventually return to work -if the death is suicide or due to a pre existing condition -when the policy is in the incontestability period -for claims involving periodic payments - Answer for claims involving periodic payments INSURERS MUST PAY LUMP SUM CLAIMS IMMEDIATELY AFTER RECEIVING PROOF OF LOSS What does coinsurance ...

Adverse Selection - Answer insuring of risks that are more prone to losses than the average risk lapse - Answer policy termination due to nonpayment of premium Insurance - Answer transfers risk of loss from an individual or business entity to an insurance company which in turn spreads the costs of unexpected losses to many individuals Life Insurance - Answer protects against loss associated with an insured's death, and pays a death benefit to beneficiaries upon death of the ins...

Which of the following amounts must decrease in a decreasing term? - Answer Death benefit In life insurance, insurable interest must exist at the time the.. - Answer Producer writes an on a proposed insured An applicant makes an offer to the insurer when they - Answer pay an initial premium with the application Which of the following makes Universal Life insurance different from other forms of permanent insurance? - Answer Premium Schedule An insurer that shares its profits w...

The Waiver of Cost of Insurance rider is found in what type of insurance? - Answer Universal Life If an insured continually uses the automatic premium loan option to pay the policy premium, - Answer The policy will terminate when the cash value is reduced to nothing If a settlement option is not chosen by the beneficiary or policyowner, which option will be used? - Answer Lump sum An insured misstates her age at the time the life insurance application is taken. This misstatement m...

Replacement regulation is designed to protect - Answer Policyowners from mirepresentation and loss of benefits All Health Benefit Plans issued after January 1, 2014 must provide - Answer Preventative health services Which of these will have the highest monthly payout upon annuitization - Answer Straight life Which of the following is included in the entire contract according ti the entire contract provison? - Answer Clauses Which of the following is considered to be an altern...

TESTBANK FOR PSYCH 1. Chapter 1.The nurse is assessing the factors contributing to the well-being of a newly admitted client. Which of the following would the nurse identify as having a positive impact on the individual's mental health? A) Not needing others for companionship B) The ability to effectively manage stress C) A family history of mental illness D) Striving for total self-reliance Ans: B Feedback: Individual factors influencing mental health include biologic makeup, autonomy, ...

Psychology NURS 271 test bank 1. Chapter 1 The nurse is assessing the factors contributing to the well-being of a newly admitted client. Which of the following would the nurse identify as having a positive impact on the individual's mental health? A) Not needing others for companionship B) The ability to effectively manage stress C) A family history of mental illness D) Striving for total self-reliance Ans: B Feedback: Individual factors influencing mental health include biologic ...