Oklahoma Laws and Rules Pertinent to Insurance Latest Update Already Passed

Oklahoma Laws and Rules Pertinent to Insurance Latest Update Already Passed If an employee loses employment, how long does the employee have to apply for COBRA (continuation of coverage)? 60 days Long-term care policies sold in Oklahoma may offer coverage in which Benefits are based on an individual's availing to perform activities of daily living When long-term care insurance is replaced, the insurer issuing the new policy cannot Impose a new pre-existing conditions exclusion If an existing Medicare Supplement policy is being replaced by a new policy, who is required to sign the notice of replacement? The producer and the applicant Which of the following actions by a producer would NOT result in a license suspension or revocation? Producing an insufficient amount of new premium Which of these is NOT an Unfair Claims Settlement Practice? Offering to settle a claim by arbitration The ____ is responsible for determining the appropriateness of a Medicare Supplement policy for an applicant. producer What is the minimum age required for open enrollment in Medicare Supplement insurance? No minimum age required The pre-existing conditions exclusion under a small employer health plan may be partially or fully satisfied by having creditable coverage with a previous employer A stock insurance company is owned exclusively by its shareholders A (n) ___ insurer writes business in a state other than the other in which it is domiciled. Foreign Which of the following is NOT a valid reason for the Commissioner to suspend a licensed producer? Being convicted of a misdemeanor Which of the following situations would qualify an insured to receive funds from an accelerated (living) benefit rider? Insured is expected to remain in a nursing home for life Under which circumstance may an insurer discontinue a small employer group medical plan? Insurer discontinues offering the plan to all employers A producer who misrepresented pertinent policy provisions related to a claim committed a(n) Unfair claims settlement practice A lapsed long-term cares policy may be reinstated with ___ months if the covered individual was mentally incapacitated. 5 months Before emailing a client an insurance document during a transaction, what must the client provide before the producer can send the document? consent to receive the email A group Health plan sold in Oklahoma cannot sent, exclude, or limit benefits for losses incurred more than___ months after the effective date due to pre-existing conditions. 12 months Charging different premiums to policyholders in the same risk classification is referred to as Unfair discrimination When an existing life insurance policy is being replaced with a new one, a replacement notice MUST be given At the time of taking an application