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Joey McGuire
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Decks in this class (55)
1.1
Puerto rico guam and the us virgi...,
Insurers are regulated on the ___...,
Also regulated by the states insu...
5
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1.2
An insurer s _________ represents...,
What are some financial rating co...,
__________ is the retention of ri...
5
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1.3
With reciprocal insurance each me...,
A reciprocal is another form of i...,
The majority of private commercia...
5
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1.4
A _________ insurance company is ...,
A mutual insurance company is con...,
Individuals who purchase insuranc...
5
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Regulation
A ____________ is provided to an ...,
Once certified by the state the i...,
Authorized insurance companies of...
39
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Lesson 2
Name 3 marketing distribution sys...,
The ______ marketing distribution...,
Utilizing the ______ approach a r...
64
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Lesson 5
Insurance regulation in the us ha...,
Throughout the 1800s the us insur...,
As time went on the federal gover...
45
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5.2
The ____ is a group of laws that ...,
_____ developed by the legislativ...,
The ______ also known as a superi...
17
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5.3
The various models of law establi...,
The naic is not a federal or stat...,
Founded in 1871 the national asso...
5
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6.1
______ insurance is a class of in...,
A ______ is a policy that is issu...,
A group insurance policy is a sin...
47
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6.2
The employment retirement income ...,
Commonly referred to as erisa thi...,
Erisa is regulated by the _____ a...
17
cards
7.1
The legality of a life insurance ...,
Insurable interest occurs between...,
In order to create a valid life i...
46
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7.2
One of the primary purposes of li...,
Life insurance is a lawful contra...,
A ______ is a financial assessmen...
33
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8.1
A term life insurance policy is a...,
A term life policy s death benefi...,
The term of a policy is the _____...
32
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8.2
Whole life insurance is also know...,
Whole life insurance provides cov...,
An important feature of whole lif...
18
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9.1
The _____ established uniform cos...,
A ______ is a generic document th...,
A life insurance ______ reviews t...
5
cards
9.1b
Due to the complexities of whole ...,
Two methods used when comparing w...,
The traditional cost comparison m...
5
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9.1c
More often used than the traditio...,
A ______ takes into account the v...,
As an industry standard cost inde...
5
cards
9.1d
As is the case for the surrender ...,
Regardless of whether the focus i...,
When selling life insurance an ag...
5
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9.1e
A ______ is defined as an illustr...,
An in force illustration is defin...,
Known as the ______ the naic has ...
5
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9.1f
The naic life insurance solicitat...,
An illustration used in the sale ...,
When using an illustration in the...
6
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9.2a
During the sales process an agent...,
After collecting the policy summa...,
As a licensed agent it is importa...
5
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9.2b
A _____ is proof that an applicat...,
After inspecting the policy and u...,
An applicant is not protected aga...
5
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9.2c
If a ______ is declined but the i...,
A _____ also referred to as a bin...,
When applying for life insurance ...
5
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9.2d
A _____ is often required by the ...,
An insurance company has the righ...,
Enacted by congress in 2001 the u...
5
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9.2e
_____ is the best way to deliver ...,
Once an insurer has decided to is...,
Again the life insurance policy s...
6
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9.2f
Sometimes the decision to replace...,
It is unethical and illegal for a...,
Naic has adopted a model life ins...
6
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10.1a
As a financial contract a life in...,
A life insurance policy is a lega...,
A life insurance policy is not a ...
5
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10.1b
Also written into all life contra...,
The most common option for paying...,
Although not as common policy pre...
5
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10.1c
If a life insurance policy does l...,
In the case of a long term life p...,
In the case of a policy issued re...
5
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10.1d
_____ life insurance policies inc...,
Although the insurer charges inte...,
After a specific period of time u...
5
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10.1e
Two types of assignments availabl...,
In the event that a misstatement ...,
In the event that a premium is no...
3
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10.2a
In addition to the standard polic...,
To help determine how policy proc...,
The uniform simultaneous death ac...
5
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10.2b
Life insurance policies also incl...,
A common life policy exclusion is...,
If the policyowner dies as a resu...
5
cards
11.1a
Until the ______ it was common fo...,
______ is the amount payable by t...,
Mandated by most state legislatur...
5
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11.1b
The reduced paid up whole life po...,
As an example of the reduced paid...,
The extended term option is simil...
4
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11.2a
When death occurs a whole life po...,
Choosing a settlement option allo...,
Upon the death of the policy s in...
5
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11.2b
Once specified date set for the i...,
The ______ is defined by the peri...,
In comparison to the fixed period...
5
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11.2c
Upon the death of an insured indi...,
Under the ______ the policyowner ...,
The accumulation at interest opti...
5
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12.1a
A policy _____ also known as an e...,
An accidental death benefit rider...,
In comparison to the accidental d...
5
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12.1b
The _____ provides monthly income...,
The _____ is often attached to a ...,
The _____ also known as an insura...
7
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12.2a
The _____ is similar in practice ...,
Concerning the cost of living rid...,
The ______ is referred to as a fa...
6
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13.1a
A group life insurance contract p...,
Employer groups unions and labor ...,
Acting as a fiduciary these _____...
5
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13.1b
As an exception defined by the na...,
A true group is defined by the na...,
A ______ is not required of a gro...
5
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13.2a
Group life insurance is also char...,
Group insurance is most commonly ...,
In addition to an art policy a gr...
5
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13.2 b
A multiple employer plan is estab...,
Not to be confused with a multipl...,
Similar to a multiple employer pl...
5
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13.2c
A group must have been establishe...,
Two or more credit unions can gro...,
All members of participating cred...
6
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14.1a
An annuity is a financial vehicle...,
Later in the annuity owner s life...,
4 parties involved in an annuity ...
5
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14.1b
When the annuity matures it annui...,
Both the owner and insurer benefi...,
During the annuity s growth perio...
5
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14.1c
Similar to an individual annuity ...,
A group annuity is often purchase...,
Often set up by employers as part...
5
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14.1d
Annuity riders commonly added to ...,
Although an annuity contract is n...,
Most commonly an annuity provides...
5
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14.1e
An example of when an annuity own...,
An owner driven annuity structure...,
In comparison to the owner driven...
5
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14.1f
A ______ premium structure allows...,
Designed as a means of spreading ...,
A _____ delays payout to allow in...
4
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14.2a
In order for a deferred annuity t...,
A ______ will guarantee a certain...,
An annuity s interest rate is det...
5
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14.2b
Similar to a life insurance polic...,
During the annuity s payout perio...,
______ the annuity payout from th...
5
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Life Insurance
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