Term insurance is appropriate for someone who - seeks temporary protection and
lower premiums.
After the first payment is made the grace period for an
... [Show More] accident and health policy
is___days. - 30
An attending physicians statement would be appropriate with insurance purposes?
All of trequest of an insurer to assist in underwriting decision. - an attending
physicians statement is done at the request of insurer when it could affect the
underwriting decision- consent of the application.
An accident and health insurer has just received written proof of loss from one of
its insureds. The insured must now wait _60 days. - bring legal action
Louisiana resident who are uninsurable may obtain health coverage through the: -
Louisiana health insurance association
Which of the following would be considered a possible applicant and contract
policyholder for agroup health benefits? - the employer
A viatical settelement broker may not - make any transactions before being
approved for a license; brokers need to be licensed before conducting viatical
trasnsactions; the exception would be eligible financial professionals.
An insurance producer who convinces insured purchase a policy by exaggerating
the benefit of the policy may be found guilty of - misrepresentation
An insurer has ___ days to file notice of appointment to the commissioner - 15
days; appointing insurer has 15 days to file notice of appointment to commissioner.
A life insurance policy containing a guaranteed interest rate with the chance to earn
a rate higher than the guaranteed rate - universal life
Index whole life insurance contains a securities componenet acting as a ____. -
hedge against inflation;
-the securities component of index whole life insurance is considered an affective
hedge against inflation.Group dental plans will frequentlly place a limit on annual benefit in order to
minimize_______ ______. - adverse selection
A provision allowing a policyowner to withdraw a policy's cash value interest free
is known as ___ ___. - partial surrender
Tom has a home health care benefit and is confined to his home. Which of these
benefits is not typically covered: - full time nursing care
An individual who has a contract with an insurance company to represent is called
a ___. - a producer
- the person required to be licensed pursuant to laws of this state to sell, solicit, and
negotiate insurance.
What amount will be paid under a policy where the insured misstated his/her age? -
the amount premium would have purchased at the correct age
Mistatement of age provision - alllows insurer to adjust benefit payable if the age
of insured was mistated when application for policy was made.
Variable life insurance and universal life insurance are very similar.which of these
features are held exclusively by varailable universal life insurance? - policyowner
having right to select investment which will providing the greatest return.
The clause protecting policyowner from a misrepresentation caused by his or her
own innocent mistake - incontestable clause
During the accumulation period, who can surrender an annuity ? - the
policyowner(only one who may surrender during accumulation period
In which of the following situations would the insurer by liable for a loss? - the
insured suffered an injury as an innocent bystander during bank robbery
Type of policy which pays on death of last person is - the survivorship life policy
on death of last person.
The least expensive option to pay off a 30 year mortgage balance would be ___
___ __. - decreasing term lifeCredit accident and health plans are designed to :? - pay off exisitng loans during
periods of disability.
How long is a free look period for a life insurance policy sold in louisiana - 10
days
- allows policyowner to decide whether or not to keep ot. If policy owner decides
not to keep policy within 10 days allowed, full refund is granted.
Which of the following statements regarding group disability income insurance is
true? - provides benefits for non occupational illness and injuries
- reason: occupational illness and injuries are typically covered by workers
compensation insurance.
This mandatory health policy provision states that policy, including endorsements
and attached papers constitutes: - the entire insurance contract between parties
This would limit a companys liability to provide insurance coverage: - exclusion
Condition limiting the companys liability to provide coverage. - exclusion.
Not considered nonforfeiture option available to a policy owner - reduction of
premium
Are considered nonforfeiture option available to a policy owner - 1extended term
insurance
2.cash surrender
3.reduced paid up insurance
Which of these gaps in medicare coverage is addressed with medicare
supplemental insurance: - medicare in hospital deductible.
Frank is shopping for a disability income policy. Which of the following would
have the highest premium? - 14 day waiting period; 10 years benefit period.
Under group health insurance, a certificate of coverage to the employee outlining
the benefits issues : - the master contract and is consdiered the policyowner [Show Less]