Florida Life And Variable Annuity Study Guide Rated A+

installment refund annuity {Ans: annuity income option that provies for the funds remaing at the annuiants death to be paid to the beneficiary in the form of continued annity payments}insurable interest {Ans: exists when the death of the insured would have a clear financial impact on the policyowner}automatic premium loan {Ans: provision that authorizes the insurer to wihtdraw from the policy's cahs value the amount of premium due if the premium has not been paid by the end of the grace period. The amount withdrawn becomes a lan aganist the cash value, bearing the rate of interest specified in the contact.}moral hazard {Ans: tendencies that people may have that increase risk and chance of loss *drug addiction and alcholism}Fair Credit Reporting Act (FCRA) {Ans: established procedures for the collection and disclosure of information obtained on consumers through investigation and credit reports. Seeks to insure fairness with the regards to confidentiality, accuracy, and disclosure.}morale hazard {Ans: individual tendencies that arise from an attitude or state of mind causing indifference to loss *driving recklessly}