Florida Health Insurance Exam 4

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

whole life of the insured to age 100 is called

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