ALABAMA L+H EXAM 2024/2025 WITH 100% ACCURATE SOLUTIONS
2 views 0 purchase
Course
ALABAMA L+H
Institution
ALABAMA L+H
ALABAMA L+H EXAM 2024/2025 WITH 100% ACCURATE SOLUTIONS
Which of the following riders could decrease the amount of the policy death benefit if utilized? - Precise Answer Waiver of Premium Rider
Laws have been enacted to prohibit cancellation of a Medicare supplement policy on the sole basis...
ALABAMA L+H EXAM 2024/2025 WITH
100% ACCURATE SOLUTIONS
Which of the following riders could decrease the amount of the policy
death benefit if utilized? - Precise Answer ✔✔Waiver of Premium Rider
Laws have been enacted to prohibit cancellation of a Medicare
supplement policy on the sole basis of age or deterioration of health.
This requirement is called - Precise Answer ✔✔Guaranteed
Renewability
Benefits paid under an employer-paid Group Health Insurance policy
are? - Precise Answer ✔✔The benefits are non-taxable to the employee,
but the premiums are taxable as remuneration to the employee.
If the consideration clause states that the premium payment keeps the
policy in force until the next premium is due plus 30 days thereafter, the
policy - Precise Answer ✔✔Contains a grace period
With respect to an insurance application - Precise Answer ✔✔all
statements made by the applicant are considered to be representations.
An individual insurance producer who allows his or her license to lapse
may, within a maximum period of ________ months from the due date
of the renewal fee, reinstate the same license without having to complete
,the prelicensing course or pass a written examination. - Precise Answer
✔✔12
In noncontributory group insurance plans, what percentage of eligible
employees must be covered by the plan? - Precise Answer ✔✔100
If an agent tells a proposed insured he has authority to issue a policy,
which he is actually disallowed to do by his agency contract, the insured
may reasonably assume the agent had this authority. This is an example
of - Precise Answer ✔✔Apparent Authority
Under which of the following circumstances will the payor rider waive
premiums and allow a life insurance policy to remain in force? - Precise
Answer ✔✔If the policyowner dies or becomes disabled prior to the
insured reaching either age 21 or 25.
When Jonas died, it was discovered that he was actually six years older
than he had claimed when applying for an insurance policy. Upon his
death what will the insurance company pay? - Precise Answer ✔✔The
company will pay only the amount of insurance that Jonas' premiums
would have purchased at his correct age.
Renewable Term guarantees - Precise Answer ✔✔Insured Insurability
When the owner of a life insurance policy transfers ownership to a third
party in return for payment of a large percentage of the death benefit,
this is known as - Precise Answer ✔✔Viciatal Settlement
, You must notify the Company of a health insurance claim within how
many days (or as soon thereafter as reasonable possible)? - Precise
Answer ✔✔20 days
The fundamental insurance concept that an insured should not profit
from a loss but should be restored in whole or in part to the approximate
financial condition occupied before the loss is known as the principle of
- Precise Answer ✔✔indemnity
The factors that determine the amount of each payment to a beneficiary
under the fixed period (fixed time) option are the - Precise Answer
✔✔length of the fixed period and the death benefit of the policy, and
interest.
Which policy will have immediate cash? - Precise Answer ✔✔Single
Premium
The Alabama Life and Disability Insurance Guaranty Association covers
the contractual obligations of an insolvent life and disability insurer, but
its aggregate liability for CASH VALUES shall not exceed - Precise
Answer ✔✔100,000
Which of the following is CORRECT regarding Alabama's annuity
suitability regulation? - Precise Answer ✔✔The producer must make
every effort to obtain information to clarify the prospective purchaser's
financial status, tax status and investment objectives.
The benefits of buying summaries with Stuvia:
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
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
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 YANCHY. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $11.49. You're not tied to anything after your purchase.
