Florida Health and Life Insurance Exam

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Florida Health and Life Insurance Exam
with complete questions and answers
2025

Whole Life Policies - ...ANSWER✓✓✓- Ordinary (Straight) Life

- Limited-pay Life

- Single-Premium Life

- Adjustable Life



Interest/Market-Sensitive Policies - ...ANSWER✓✓✓- Universal Life

- Variable Whole Life

- Variable Universal Life

- Interest-sensitive Whole Life

- Equity-Indexed Life



Term Life Policies - ...ANSWER✓✓✓- level term life

- Decreasing Life

- Return of premium policy

- Annually renewable policy

- Increasing term policy



Combination Plans - ...ANSWER✓✓✓- Joint Life (first to die)

- Survivor Ship Life (second to die)



Individual Policy characteristics - ...ANSWER✓✓✓- individual is issued the policy, selects the plan

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- individual applies

- More expensive

- More restrictive

Group Policy Characteristics - ...ANSWER✓✓✓- Master policy-owner is issued for the group

- Group selects plans to pick from

- Eligible employees apply

- Less expensive

- Less restrictive



Permanent Life Insurance - ...ANSWER✓✓✓- whole life insurance

- effective for entire life, up to age 100

- permanent protection

- cash value



Term Life Insurance - ...ANSWER✓✓✓- Effective for temporary period of time -

no cash value



Participating Life Insurance Policies - ...ANSWER✓✓✓- pay dividends to policyholders -

ex: Mutual Insurance companies



Ways of policyholders receiving dividends from participating life insurance policies - ...ANSWER✓✓✓-- In
cash

- Accumulate interest

- Purchase more coverage

- Use to reduce future premium prices

- Pay up the entire policy

- Purchase 1-year term insurance