South Carolina Insurance Exam Questions & Answers 100% Correct!

An insurer is REQUIRED to offer which of the following to each long-term care applicant at the time of purchase? - ANSWERSInflation protection Which of these riders will pay a death benefit if the insured's spouse dies? - ANSWERSFamily term insurance rider Disability income plans which require that the insurer can NEVER change or alter premium rates are usually considered - ANSWERSNonconcellable What is the required action to be taken by a South Carolina licensee before operating under an assumed business name? - ANSWERSNotify the Director The suicide clause of a life insurance policy states that if an insured commits suicide within a stated period from the policy's inception, the insurer will only be liable for a return of premiums paid - ANSWERSminus indebtedness and without interest If an annuitant dies before the annuity start date - ANSWERSthe premiums paid plus interest will be given to the beneficiary The purpose of the Coordination of Benefits provision in group accident and health plans is to - ANSWERSavoid overpayment of claims The typical long-term care insurance policy is designed to provide a minimum of___year(s) of coverage - ANSWERS1 Decreasing term life insurance is often used to - ANSWERSprovide coverage for a home mortgage Which type of life insurance policy pays the face amount at the end of the specified period if the insured is still alive? - ANSWERSEndowment policy A life insurance policy normally contains a provision that restricts coverage in the event of death under all of the following situations EXCEPT - ANSWERSfare-paying passenger All _____ policies must be guaranteed renewable. - ANSWERSlong-term care What type of injury would NOT be covered under a health insurance policy? - ANSWERSWork related