MODULE 5: HEALTH AND LIFE
INSURANCE QUESTIONS WITH
COMPLETE ANSWERS { GRADED A+}
Accelerated death benefit life provision - ✔✔Provision sometimes in life
insurance policies that dictates under what conditions the policy owner is able to
receive a reduced policy benefit while alive.
i.e. onset terminal illness
Accidental death and dismemberment provision - ✔✔Provision in life insurance
policy that provides additional benefit if the insured dies as a result of an accident
or loses stated body parts
Activities of Daily Living - ✔✔Define what will trigger the need for long term
care.
, i.e. eating, toileting, walking, dressing
Adverse Selection - ✔✔The tendency of individuals who most need the insurance
being the ones most likely to want to purchase it.
Annuitant - ✔✔The recipient of annuity distributions
Annuitization - ✔✔Selecting one of the payment options available from annuity,
and starting periodic payments
"Any occupation" definition of disability - ✔✔A person will receive disability if
they can prove that they are unable to perform ANY occupation
Assignment - ✔✔Owner of a life insurance policy may transfer ownership under
this clause of the policy
Association group disability insurance - ✔✔Group disability insurance that is
available to an individual as a result of membership in a particular association
Automatic Premium Loan Provision - ✔✔Enables the insurer to withdraw funds
from the policy if any cash value has accumulated within the contract
Beneficiary - ✔✔one who receives benefits
INSURANCE QUESTIONS WITH
COMPLETE ANSWERS { GRADED A+}
Accelerated death benefit life provision - ✔✔Provision sometimes in life
insurance policies that dictates under what conditions the policy owner is able to
receive a reduced policy benefit while alive.
i.e. onset terminal illness
Accidental death and dismemberment provision - ✔✔Provision in life insurance
policy that provides additional benefit if the insured dies as a result of an accident
or loses stated body parts
Activities of Daily Living - ✔✔Define what will trigger the need for long term
care.
, i.e. eating, toileting, walking, dressing
Adverse Selection - ✔✔The tendency of individuals who most need the insurance
being the ones most likely to want to purchase it.
Annuitant - ✔✔The recipient of annuity distributions
Annuitization - ✔✔Selecting one of the payment options available from annuity,
and starting periodic payments
"Any occupation" definition of disability - ✔✔A person will receive disability if
they can prove that they are unable to perform ANY occupation
Assignment - ✔✔Owner of a life insurance policy may transfer ownership under
this clause of the policy
Association group disability insurance - ✔✔Group disability insurance that is
available to an individual as a result of membership in a particular association
Automatic Premium Loan Provision - ✔✔Enables the insurer to withdraw funds
from the policy if any cash value has accumulated within the contract
Beneficiary - ✔✔one who receives benefits
