Florida Life Insurance Study Guide Rated A+

Insurable Interest {Ans: individual on his life husband or wife parents on children child on parent/grandparent business partners on each other creditor on debtor}Level Term Ins {Ans: provides a level amount of protection for a specified period, after which the policy expires.}Florida {Ans: no min # of participants as long as the organization is eligible for group ins}Mutual Insurance Companies {Ans: organized and incorporated under state laws. No stockholders.}Mortality Factor {Ans: Mortality (highest effect rate making) Interest eXpense}Policy Summaries {Ans: Specific to the Policy - ids the agent, insurer, policy, each rider, and includes info about premiums, dividends, benefit amounts, cash surrender values, policy loan interest rates, and life insurance cost indexes of the specific policy being considered}