2-15 Insurance License Florida Study Guide Rated A+

Under the joint and for survivor option if one annuitant dies, the survivor Receives the rest of the principal. If the survivor dies, what happened to the balance? {Ans: The balances forfeit}Minimum Deposit Whole Life {Ans: Cash values begin immediately and are use to pay future premiums (partially or on full).}Consideration Clause (Money) {Ans: The part of an insurance contract setting forth the amount of initial and renewal premiums and frequency of future payments.}Constructive Delivery {Ans: An act equivalent to the actual, physical delivery of property that cannot be physically delivered because of difficulty or impossibility. For example, the transfer of a key to a safe constructively delivers the contents of the safe.}Individual contract {Ans: Health insurance purchased by an individual; usually includes dependents}True or false HMO's operate almost exclusively through group enrollment plans. {Ans: True}