XCEL Life and Health Insurance (A+ Guaranteed)

The Do Not Call Registry offers exemptions for calls placed from all of the following EXCEPT correct answers insurance sales calls Charities, political organizations, and surveys are all offered exemptions from The Do Not Call Registry The type of policy where the insurer can send a notice to th...

Period Certain correct answers Which annuity payout option allows the policy owner to choose a pre-determined number of benefit payments? Life only annuity correct answers Which annuity payout option has no additional payouts regardless of when the annuitant dies Errors and Omissions correct a...

Replacement regulation is designed to protect correct answers Policyowners from mirepresentation and loss of benefits All Health Benefit Plans issued after January 1, 2014 must provide correct answers Preventative health services Which of these will have the highest monthly payout upon annuiti...

What is the primary purpose of a rating service company such as A.M Best? correct answers Determine financial strength of an insurance company What is considered to be the primary reason for buying life insurance? correct answers Provide death benefits Which of the following is NOT considered ...

The focus of major medical insurance is providing coverage for correct answers medical and hospitalization expenses An insured under a Major Medical expense plan with a zero deductible and 80/20 coinsurance provision files a $1,000 claim. How much of this claim is the insured responsible for? cor...

A saving vehicle designed to first accumulate funds and then systematically liquidates the funds correct answers Deferred annuity An annuity which is backed by a life insurer's separate account correct answers Variable Annuity Cindy buys a 10-year certain annuity with an installment refund. A...

When can a policy owner change a revocable beneficiary? correct answers Anytime M purchased an Accidental Death and Dismemberment (AD&D) policy and named his son as beneficiary. M has the right to change the beneficiary designation at anytime. What type of beneficiary is his son? correct answers ...

When an insurance company requests an attending physician's report, the request must be accompanied by a correct answers Copy of the signed authorization Which of the following is NOT a required uniform provision in individual health policies? correct answers Change of occupation "Life insur...

who is not eligible for social security survivor benefits? A. Full-time students under the age of 19 B. A deceased worker's dependent parents of any age C. A widow at any age who is caring for children younger than 16 D. A widow at full retirement age correct answers A deceased worker's depe...

What is the primary purpose of a rating service company such as A.M Best? correct answers Determine financial strength of an insurance company What is considered to be the primary reason for buying life insurance? correct answers Provide death benefits Which of the following is NOT considered ...

Johns owns an insurance policy that gives him the right to share in the insurer's surplus. What kind of policy is this? correct answers Participating A participating company is also referred to as which type of insurer? correct answers Mutual insurer Which of the following is NOT a benefit of...

S filed a written Proof of Loss for a Disability Income claim on September 1. The insurance company did not respond to the claim. S can take legal action against the insurer beginning: correct answers November 1 What is the excise tax rate the IRS imposes on individuals aged 70 1/2 or older who d...

Which of the following requires insurers to disclose when an applicant's consumer or credit history is being investigated: correct answers 1970 - Fair Credit Reporting Act What type of reinsurance contract involves two companies automatically sharing their risk exposure? correct answers Treaty ...

Which dividend option would an insurer invest the policy owner's money and add any interest earnings as the dividends accrue? -Accumulation at Interest Option -Cash Dividend Option -Paid-Up Additions Option -One-Year Term Dividend Option correct answers The Accumulation at Interest Option...