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Florida Health Insurance Exam 4
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Florida Health Insurance Exam 4
- the receipt given to a life insurance applicant when the application is completed
and the initial premium is recieved is called an
Insurable Receipt Conditional receipt unconditional receipt ensuring receipt
Answer: conditional receipt
- Statements in the app that are believed to be true
warranties representations waivers ambiguities
Answer: warranties
- All of the following apply to the waiver of premium EXCEPT
the premium is waived only if the insured is permanently disabled. there is a waiting period of 6 months before the premium is waived.the company continues the policy in force as if the premiums were being paid. there is no charge for this rider.
Answer: there is no charge for this rider
- An annuity is considered fixed when it does all of the following EXCEPT
guarantees a minimum rate of return provides level income payments pays a specified dollar amount for each annuity benefit payment provides the annuitant with either the guaranteed or current interest rate, whichever is less Answer: provides the annuitant with either the guaranteed or current interest rate, whichever is less
- The most common type of whole life insurance where premiums are payable over the
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whole life of the insured to age 100 is called
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