Alabama Life And Health Insurance Study Guide Rated A+

A court will distribute the proceeds strictly according to state law {Ans: If Jonathan names his estate as the beneficiary of his life insurance policy and dies without a will}1. Assist in the detection and prevention of insolvencies. 2. To avoid delays in the payment of claims by insolvent insurers. 3. To provide a method of paying claims for insolvent insurers. 4. To provide a method of assessment of cost of claims due to insolvent insurers. {Ans: The purpose of the Alabama Insurance Guarantee Association is to:}A conventional or fixed annuity. {Ans: When the annuitant buys an annuity and does not take any of the investment risk, but does assume the inflation risk is called:}Decreasing term policy {Ans: The bank suggest that Bob purchase a life insurance policy that will pay off his mortgage in the event of his premature death.Which of the following would best help him achieve this purpose?}Developed from the deaths of millions of persons over long periods of time. {Ans: Mortality figures are normally developed by studying and interpreting statistics:}May withdraw the $15,000 or more, if she desires {Ans: Arthur purchased a $100,000 policy naming his wife Louise as primary