100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Alabama Life and Health Insurance Final Exam Questions and Answers 2024 / 2025 | 100% Verified Answers $10.99   Add to cart

Exam (elaborations)

Alabama Life and Health Insurance Final Exam Questions and Answers 2024 / 2025 | 100% Verified Answers

 6 views  0 purchase
  • Course
  • Alabama Health Insurance
  • Institution
  • Alabama Health Insurance

Alabama Life and Health Insurance Final Exam Questions and Answers 2024 / 2025 | 100% Verified Answers Alabama Life and Health Insurance Final Exam Questions and Answers 2024 / 2025 | 100% Verified Answers Alabama Life and Health Insurance Final Exam Questions and Answers 2024 / 2025 | 100% Verifie...

[Show more]

Preview 3 out of 21  pages

  • May 19, 2024
  • 21
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers
  • alabama life
  • health insurance
  • Alabama Health Insurance
  • Alabama Health Insurance
avatar-seller
LectArnold
Alabama Life and Health Insurance Final Exam
1.John has recently died and it was discovered that he was actually ten years older than what was listed on his life insurance policy. What will the insurer pay his beneficiary? ANS The amount of insurance that his premiums would have purchased at his correct age
2.Which of the following is considered the "automatic" Nonforfeiture Option that most insurers will use? ANS Extended term
3.Susan owns a life insurance policy that has accumulated $10,000 in cash value in which she can no longer pay its premiums. If she elects to take
the extended term option, which of these actions would she take? ANS Uses the
$10,000 to buy term insurance of the same face amount as her original policy
4.What kind of risk are amateur pilots normally classified as? ANS Special class risks
5.The monthly benefit of an Annuity Certain is determined by ANS The annuitant's payout period selection
6.Shawn has a waiver of premium rider on his life insurance policy. He becomes disabled for 3 years, during which the insurance company waives
$3,000 in premiums. When Shawn recovers, he must ANS Resume paying premiums again
7.Alabama's annuity disclosure regulation ANS Requires the delivery of a buyer's guide and a disclosure document to an annuity's applicant
8.A policyowner can collect the face amount on what type of policy? ANS Endow- ment policy
9.On November 10, Ozzie's Major Medical policy is reinstated. He is later injured in an automobile accident on November 13 and immediately hospital- ized. Ozzie is eligible for ANS Full benefits
10.In Alabama, when are newborns covered under a health policy? ANS The mo- ment of birth
11.Alabama's continuing education law states that an insurance producer must report how many classroom hours every two years? ANS 24
12.Mortgage protection is typically covered with ANS Decreasing term
13.A departing employee has decided to continue his group coverage through COBRA. Who pays the premium in this situation? ANS Employee
14.Kim has purchased a straight life annuity. What will this type of annuity provide her with? ANS A periodic income to the annuitant for life
15.According to Required Provision 4, when an insured applies for reinstate-
ment of a health policy and receives a conditional receipt, how long does the
insurer have to approve or deny? ANS Within 45 days of the date of application
16.An example of a life insurance beneficiary is a(n) ANS Child, spouse, or
compa- ny of the insured.

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller LectArnold. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $10.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

82871 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$10.99
  • (0)
  Add to cart