Kentucky Life And Health Insurance Study Guide Rated A+

identify key points: waiver of premium {Ans: the insurer waives the premium if the insured become totally disabled the insured pays the premium during the elimination period and gets it back if still disabled at the end of EP}what is the agents report {Ans: report written by an agent about an applicant, helps in underwriting prces}what is the difference between the own occupation and any occupation, and which is better from the insured perspective {Ans: own is better for insured and you only have to be disabled from your own occupation, not any you are trained for}SIMPLE plan key points {Ans: simplified defined contribution plan for small employers funded either with: mandatory employee elective deferrals or non mandatory employee non elective contributions}what is standard 2 party life insurance {Ans: policy owner and insured are same person}describe return of premium {Ans: pays sum to all or portion of premiums paid if policy owner is alive when policy ends}