Insurance
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| A legal representative of an insurance company | show 🗑
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| show | Applicant
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| show | Insured
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| show | Broker
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| The paid amount upon death of the insured in a life insurance policy | show 🗑
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| a person's net worth | show 🗑
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| A contract between a policyowner (and/or the insured) and a insurance company which agrees to pay the insured or the beneficiary for loss caused by specific events | show 🗑
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| show | Beneficiary
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| show | Insurance Company, also known as the Insurer (Principal)
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| Policy termination due to nonpayment of premium | show 🗑
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| Coverage on a human life | show 🗑
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| show | Policyowner
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| Money paid to the insurance company for the insurance policy | show 🗑
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| show | Insurable Interest
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| This document provides basic, GENERIC information about life insurance policies that contains, and is limited to, language provided by the Department of Insurance. This is called... | show 🗑
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| A written statement describing the FEATURES & ELEMENTS of the policy being issued. | show 🗑
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| The risk selection and classification process. It's when an insurance company determines whether or not a particular applicant is insurable, and if so, what premium to charge. | show 🗑
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| show | Field Underwriting
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| show | Field Underwriting responsibilities
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| show | Adverse Selection
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| show | Receipt
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| The starting point and basic source of information used by insurance company. Part 1 - general information and Part 2 - Medical information | show 🗑
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| Before submitting application you must complete and sign... | show 🗑
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| Agent/Producer, Applicant, and Policyowner (if not proposed insurer) | show 🗑
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| Before a policy is issued, all of the questions on the application must be answered. If the insurer receives and incomplete application, the insurer must return it the the agent for completion | show 🗑
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| show | Conditional Receipt
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| Appointment date Medical Exam Death Policy Issued | show 🗑
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| An absolutely true statement upon which the validity of the insurance policy depends. | show 🗑
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| Statements believed to be true to the best of one's knowledge but they are not guaranteed to be true | show 🗑
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| Untrue statements on application | show 🗑
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| A statement that if discovered, would alter the underwriting decision of the insurance company | show 🗑
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| a statement from a medical practitioner who treated the applicant for a prior medical problem | show 🗑
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| a membership corporation owned by member insurance companies. Nonprofit trade organization which receives adverse medical information from insurance companies and maintains confidential medical impairment information on individuals | show 🗑
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| The insurer must disclose use of testing to applicant and obtain written consent from the applicant on the approved form | show 🗑
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| The Law protecting consumers against the circulation of inaccurate or obsolete information | show 🗑
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| The practice of terminating and existing policy of letting it lapse, and obtaining a new one | show 🗑
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| organizations must consult the registry every 31 days. Any phone numbers on registry must be dropped from the organization's call list | show 🗑
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| Pure Death Protection | show 🗑
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| show | Decreasing Term
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| show | Renewable Life Insurance
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Created by:
NelsonUSMC2025
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