NH Life and Health Insurance Exam /2026 WITH 100%
ACCURATE ANSWERS
Agent/Producer - ✔✔ANSWER✔✔-a legal representative of an
insurance company; the classification of producer usually includes
agents and brokers; agents are the agents of the insurer
Insurer (principal) - ✔✔ANSWER✔✔-The company who issues an
insurance policy
Policy owner - ✔✔ANSWER✔✔-The person entitled to exercise the
rights and privileges in the policy
Applicant or proposed insured - ✔✔ANSWER✔✔-A person applying
for insurance
Broker - ✔✔ANSWER✔✔-an insurance producer not appointed by an
insurer and is deemed to represent the client
,Insurance Policy - ✔✔ANSWER✔✔-a contract between a
policyowner (and/or insured) and an insurance company which
agrees to pay the insured or the beneficiary for loss caused by
specific events
Insured - ✔✔ANSWER✔✔-the person covered by the insurance
policy. This person may or may not be the policy owner
Premium - ✔✔ANSWER✔✔-The money paid to the insurance
company for the insurance policy
Reciprocity / Reciprocal - ✔✔ANSWER✔✔-a mutual interchange of
rights and privileges
Beneficiary - ✔✔ANSWER✔✔-A person who receives the benefits of
an insurance policy
Death Benefit - ✔✔ANSWER✔✔-The amount paid upon the death of
the insured in a life insurance policy
Endow - ✔✔ANSWER✔✔-To have the cash value of a whole life
policy reach the contractual face amount
Face amount - ✔✔ANSWER✔✔-The amount of benefit stated in the
life insurance policy
, Fixed life insurance products - ✔✔ANSWER✔✔-Contracts that offer
guaranteed minimum or fixed benefits
Lapse - ✔✔ANSWER✔✔-policy termination due to nonpayment of
premium
Level Premium - ✔✔ANSWER✔✔-The premium that does not change
throughout the life of the policy
Nonforfeiture values - ✔✔ANSWER✔✔-Benefits in a life insurance
policy that the policy owner cant lose even if the policy is
surrendered or lapses
Policy maturity - ✔✔ANSWER✔✔-In life policies the time when the
face value is paid out
Securities - ✔✔ANSWER✔✔-financial instruments that may trade for
value (for example, stocks, bonds, options)
Variable life insurance products - ✔✔ANSWER✔✔-Contracts in
which the cash values accumulate based upon a specific portfolio of
stocks without guarantees of performance
Activities of daily living (ADLs) - ✔✔ANSWER✔✔-a person's essential
activities that include bathing, dressing, eating, transferring,
toileting, continence
ACCURATE ANSWERS
Agent/Producer - ✔✔ANSWER✔✔-a legal representative of an
insurance company; the classification of producer usually includes
agents and brokers; agents are the agents of the insurer
Insurer (principal) - ✔✔ANSWER✔✔-The company who issues an
insurance policy
Policy owner - ✔✔ANSWER✔✔-The person entitled to exercise the
rights and privileges in the policy
Applicant or proposed insured - ✔✔ANSWER✔✔-A person applying
for insurance
Broker - ✔✔ANSWER✔✔-an insurance producer not appointed by an
insurer and is deemed to represent the client
,Insurance Policy - ✔✔ANSWER✔✔-a contract between a
policyowner (and/or insured) and an insurance company which
agrees to pay the insured or the beneficiary for loss caused by
specific events
Insured - ✔✔ANSWER✔✔-the person covered by the insurance
policy. This person may or may not be the policy owner
Premium - ✔✔ANSWER✔✔-The money paid to the insurance
company for the insurance policy
Reciprocity / Reciprocal - ✔✔ANSWER✔✔-a mutual interchange of
rights and privileges
Beneficiary - ✔✔ANSWER✔✔-A person who receives the benefits of
an insurance policy
Death Benefit - ✔✔ANSWER✔✔-The amount paid upon the death of
the insured in a life insurance policy
Endow - ✔✔ANSWER✔✔-To have the cash value of a whole life
policy reach the contractual face amount
Face amount - ✔✔ANSWER✔✔-The amount of benefit stated in the
life insurance policy
, Fixed life insurance products - ✔✔ANSWER✔✔-Contracts that offer
guaranteed minimum or fixed benefits
Lapse - ✔✔ANSWER✔✔-policy termination due to nonpayment of
premium
Level Premium - ✔✔ANSWER✔✔-The premium that does not change
throughout the life of the policy
Nonforfeiture values - ✔✔ANSWER✔✔-Benefits in a life insurance
policy that the policy owner cant lose even if the policy is
surrendered or lapses
Policy maturity - ✔✔ANSWER✔✔-In life policies the time when the
face value is paid out
Securities - ✔✔ANSWER✔✔-financial instruments that may trade for
value (for example, stocks, bonds, options)
Variable life insurance products - ✔✔ANSWER✔✔-Contracts in
which the cash values accumulate based upon a specific portfolio of
stocks without guarantees of performance
Activities of daily living (ADLs) - ✔✔ANSWER✔✔-a person's essential
activities that include bathing, dressing, eating, transferring,
toileting, continence
