Life And Health Insurance Exam 2024 Questions And Answers Part One 2024/2025 Already Graded A+

Viatical Settlement Broker {Ans: A life insurance producer who, on behalf of Viatorr and for a fee, commission, or other valuable consideration, attempts to negotiate viatical settlement contracts between a viator and one or more viatical settlement providers. A viatical settlement broker does not include an attorney certified public accountant, or financial planner.}terminally ill {Ans: An individual that has an illness or sickness that can reasonably be expected to result in death in 24 months or less.}viator {Ans: The owner or certificate holder of a policy who enters or seeks to enter into a viatical settlement contract. (Usually diagnosed with a chronic or terminal illness, they receive a portion of the death benefits while they are still alive.}Viatical Settlement Provider {Ans: A person, other than the Viator, that enters into or effectuates a viatical settlement contract.}Activities of Daily Living (ADL's) {Ans: Eating, toileting, transferring, bathing, dressing, or continence.}Viatical Settlement Purchaser {Ans: The financing entity. The viatical settlement purchaser purchases from a viatical settlement provider a life insurance policy that is the subject of a viatical settlement contract.}