Exam 9: Life and Health Insurance

According to the Keown book,________of U.S.households have no life insurance coverage.

Long-term care insurance provides money to help pay for nursing home and home health care expenses.

Define policy rider and describe the purpose of the five basic ones.

Upon examining her life insurance policy,Sylvia found the cash value amount to be fixed rather than dependent upon other variables.Sylvia has a ________ insurance policy.

Actuaries are statisticians who specialize in estimating the probability of death based on personal characteristics,such as your age and general health,as well as lifestyle specifics such as whether or not you exercise.

An employer-sponsored medical plan that allows each employee to have pretax earnings deposited into a specially designated account for the purposes of paying specific types of expenses is called a

Define long-term care insurance and describe its basic features.

Compare and contrast group and individual health insurance policies.

Practically all insurance contracts include a suicide clause stating that the insurance company won't pay off for suicide deaths that occur within the first five years of the contract.

Choose the option(s)available in the nonforfeiture clause of a cash-value life policy.

A.M.Best,Standard & Poor's,Moody's,and Weiss perform a vital service for the insurance industry.What do they do?

The beneficiary is the individual designated by the owner of the life insurance policy to receive the insurance policy's proceeds upon the death of the insured.

List the plans and payment percentages offered in the Health Insurance Marketplace.

Wayne and Sarah are trying to manage the risk they face in life a best as they can.They are following Principle 7 which states

The settlement option that provides for ongoing payments for a period of time is called

Andrew and Alice have health issues that may be passed on to their children.When the children are born would they be wise to obtain life insurance immediately on the infants prior to any of the medical conditions arising?

Describe the pros and cons of major medical insurance.

The money that the policy holder is entitled to if the policy is terminated is known as the face value.

Under a managed health care or prepaid plan you have a good deal of freedom to choose your doctors and hospitals.

Special provisions that may be added to your policy which either provide extra benefits to the beneficiary or limit the company's liability under certain conditions are known as