Ohio Health And Life Insurance Exam | 150 Questions With 100% Correct Answers | Verified | Latest Update 2024

Applicant {Ans: the party making application to the insurance company for the policy}Alien Company {Ans: An insurer organized and domiciled in a country other than the US}Annuitant {Ans: the one receiving the annuity and on whose life expectancy the rates are figured}Aleatory {Ans: Something that depends upon a chance or is random}ADB {Ans: Accidental Death Benefit also known as double indemnity}Accidental means {Ans: the unexpected cause of an accidental bodily injury}Annuity {Ans: An amount of money, payable monthly or yearly, which liquidates a financial asset}Adverse Selection {Ans: Selection against the insurance company. The tendency of poorer risks to want insurance more often than standard risks.}Aleatory Contract {Ans: A contract in which both parties know that one or the other may receive more than paid in/for a value that is not equal.}Actuary {Ans: one concerned with the application of probability and statistical theory to insurance}Agent {Ans: the individual appointed by an insurance company to solicit, negotiate, effect, or countersign insurance contracts on its behalf}AD&D {Ans: Accidental Death and Dismemberment Insurance}Accidental benefit {Ans: available only if the benefits are available during insured's lifetime, benefit amounts are fixed when accelerated,