Provides additional benefits to policyholder at extra cost.

What is whole life insurance?

Paying benefit on death of insured and getting a cash value

Paid out by any type of insurancepolicy as a result of claim

What happens in a Suicide Clause?

Insurer must pay only reserve if policyholder kills themself

What is a Medical Examination?

Evaluation conducted by doctor acting as the insured's agent

One who gets life insurance payment after death of insured.

Document detailing terms/conditions of contract of insurance

How would you describe someone as an Underwriter?

Someone who evaluates risk & exposures of potential clients.

What is cash value insurance?

Cash offered to policyowner by carrier after ended contract.

What is a Policy that pays benefits to beneficiary if the cause of death was an accident?

Accidental Death and Dismemberment Benefit

What is Life Insurance?

Insurance paying money on death of the insured/ set period.

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Life Insurance Terms Quiz

11 termsStudBud Administration87 plays

Mrs. Creasy's 4th Period Class

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Questions 11

Answers

1
What is a Rider?
Indication of something that seems to be a problem.
The ability of a good or a service to satisfy a want.
A time plan for reaching objectives.
Provides additional benefits to policyholder at extra cost.
2
What is whole life insurance?
Paying benefit on death of insured and getting a cash value
Receiving money to the insured.
Paying money to the insured.
3
Define: Proceeds
A share of ownership in a corporation.
The owner-manager of a business.
A levy on material goods owned.
Paid out by any type of insurancepolicy as a result of claim
4
What happens in a Suicide Clause?
Insurer must pay only reserve if policyholder kills themself
The ability to control behavior.
Desires are not secured.
Factors increase job satisfaction.
5
What is a Medical Examination?
People who work with information.
Evaluation conducted by doctor acting as the insured's agent
Capital that is borrowed for longer than a year
Contract that allows the use of an asset as a fee.
6
Define: Beneficiary
Money owed for credit purchases.
The physical product in its simplest form.
Person who calculates insurance rates.
One who gets life insurance payment after death of insured.
7
What is a Policy?
List of basic tasks that make up a job.
Document detailing terms/conditions of contract of insurance
Business owned by two or more persons.
A loan made to the business.
8
How would you describe someone as an Underwriter?
Someone who works at a bank.
Someone who doesn't evaluate risk.
Someone who evaluates risk & exposures of potential clients.
Someone who pays taxes late.
9
What is cash value insurance?
The reasons people buy.
Cash offered to policyowner by carrier after ended contract.
Original facts and figures that businesses generate.
Obtaining goods to be resold.
10
What is a Policy that pays benefits to beneficiary if the cause of death was an accident?
Cause & Effect Clause
Accidental Death and Dismemberment Benefit
Suicide Clause
Underwriter
11
What is Life Insurance?
Products made by films in the United States.
Insurance paying money on death of the insured/ set period.
Doing business online.
A long and severe drop in the GPD.

Life Insurance Terms Quiz Flashcards | StudBud