PSI Life, Accident, and Health Practice Exams with complete solutions

A group conversion option may be used in all the following instances EXCEPT - ANSWER-a life-changing event, such as marriage, divorce, or childbirth. Which is the primary purpose of Health Reimbursement Accounts (HRAs)? - ANSWERTo assist covered employees with the payment of medical expenses on a...

How long after being entitled to disability benefits will an individual be eligible to receive Medicare benefits? A. immediately B. 1 year C. 2 years D. At age 65 - ANSWER-2 years What is the return of premium rider? A. an increasing amount of term insurance that always equals the total of pr...

Which policy type is backed by equity investments and allows the policyholder to adjust the death benefit? - ANSWER-variable universal life Which annuity settlement option provides a stated monthly amount to the annuitant and upon the annuitant?s death the same or a lesser amount paid for the lif...

During which period of a Disability Income Policy is coverage effective but during which no benefits will be paid under the policy? - ANSWER-Probationary period All of the following are common exclusions from loss found in disability income policies EXCEPT for that incurred while - ANSWER-commiti...

What kind of retirement plan can a 75-employee for profit corporation establish? - ANSWER-Simple IRA The taxable portion of a monthly income benefit paid during the annuity phase from a nonqualified annuity is calculated using the - ANSWER-Exclusion ratio Unfair claims settlement methods and pra...