Tennessee Life and Health Insurance Success Bundle 2024!!.

Which of the following reimburses its insureds for covered medical expenses? - health maintenance organizations - preferred provider organizations - commercial insurers - service providers - Answer COMMERCIAL INSURERS - Commercial insurance companies function on the reimbursement approach. Po...

Fixed Business Expenses - Answer The reason for a business having a Business Overhead Expense Disability Plan is to cover: Insured must be under a physician's care - Answer What is the initial requirement for an insured to become eligible for benefits under the Waiver of Premium provision? ...

If a policy does not have an unconditional refund provision, when must the Buyer's Guide and Policy Summary be delivered to the applicant? - Answer The insurer must provide, to all prospective purchasers, a Buyer's Guide and a Policy Summary prior to accepting the applicant's initial premium or...

An insured purchased a Life Insurance policy. The agent told him that depending upon the company's investments and expense factors, the cash values could change from those shown in the policy at issue time. The policy is a/an - Answer interest-sensitive whole life Which of the following is NOT...

Insurance policies are offered on a "take it or leave it" basis, which make them a. Conditional Contracts b. Aleatory Contracts c. Unilateral Contracts d. Contracts of Adhesion - Answer d. Contracts of Adhesion All of these statements about Equity Indexed Life Insurance are correct EXCE...

C. 30 - Answer The Commissioner must provide a person subject to an investigation a copy of the complaint which initiated the investigation within _______ days of receiving the complaint. A. 14 B. 21 C. 30 D. 31 C. Business entity - Answer A corporation, association , partnership, limited...

In Tennessee, the MAXIMUM fine that the Commissioner can impose on a procedure is ___ per violation -$500 -$1,000 -$1,500 -$2,000 - Answer -$1,000 When a life insurance application is completed, a Policy Summary must be given to the applicant. The policy summary MUST include -the insurer'...

All of these statements regarding referrals are true EXCEPT: -The Commissioner may establish by rule a maximum amount for each referral -The person making the referral may not discuss the specific policy terms and conditions -Referral fees may not be tied to the purchase of a policy -Referral fe...

The definition of a business entity includes - Answer an association or a limited liability company If the Commissioner wishes to conduct a hearing regarding a producer, - Answer a notice must be sent by registered or certified mail to the licensee's current address of record The Commissi...

A person required to be licensed under the laws of this state to sell, solicit, or negotiate insurance is known as an - Answer Insurance producer A banker is ready to close on a customer's loan. The bank is prepared to offer the loan but only if the customer purchases a life insurance policy f...

Under a health insurance policy, benefits, other than death benefits, that have not otherwise been assigned, will be paid to - Answer The insured. Items stipulated in the contract that the insurer will not provide coverage for are found in the________________. - Answer Exclusions The insur...

Powers of Commissioner - Answer -Commissioner of Insurance -Statutory Responsibilities -Hearings and Judical Review -Investigations -Regulatory Authority -Penalties Powers of Commissioner: Commissioner of Insurance - Answer head of the state Department of Insurance Powers of Commissio...