XCEL FINAL EXAM| 2024 QUESTIONS AND ANSWERS
Typically, bLong-Term bDisability bbenefits bare bcoordinated bwith bwhich bbenefit bplan? b- b bSocial bSecurity
The bfocus bof bmajor bmedical binsurance bis bproviding bcoverage bfor b- b bmedical band bhospitalization bexpenses
An binsu...
Typically, bLong-Term bDisability bbenefits bare bcoordinated bwith bwhich bbenefit bplan? b- b
bSocial bSecurity
The bfocus bof bmajor bmedical binsurance bis bproviding bcoverage bfor b- b bmedical band
bhospitalization bexpenses
An binsured bunder ba bMajor bMedical bexpense bplan bwith ba bzero bdeductible band b80/20
bcoinsurance bprovision bfiles ba b$1,000 bclaim. bHow bmuch bof bthis bclaim bis bthe binsured
bresponsible bfor? b- b b$200
because bthis bpolicy bhas ba bzero bdeductible, bthe binsures bis bonly bresponsible bfor bthe b20%
bcoinsurance bon bthis bclaim, bor b$200
An binsured bhas ba bstop-loss blimit bof b$5,000 band ban b80/20 bcoinsurance. bThe binsured
bincurs b$25,000 bof bcovered blosses. bHow bmuch bwill bthe binsured bpay? b- b b$5,000
Which btype bof bplan bwould bbe bthe bmost bappropriate bfor ban bindividual bon bMedicare band
bconcerned bthat bMedicare bwill bNOT bpay bfor bcharges bexceeding bthe bapproved bamount?
b- b bMedicare bsupplement bPlan bF
When bcan ba bgroup bhealth bpolicy brenewal bbe bdenied baccording bto bthe bHealth bInsurance
bPortability band bAccountability bAct b(HIPAA)? b- b bwhen bcontribution bor bparticipation brules
bhave bbeen bviolated
What bdoes bthe bword b"level: bin bLevel bTerm bdescribe? b- b bthe bface bamount
A bnon-contributory bhealth binsurance bplan bhelps bthe binsurer bavoid b- b badverse bselection
because ball beligible bemployees bare busually bcovered, bnon-contributory bplans bare
bdesirable bfrom ban bunderwriting bstandpoint bbecause badverse bselection bis bminimized.
To bqualify bfor ba bresident bproducer blicense bin bthe bstate bof bMichigan, ban bindividual b- b
bmust bcomplete bthe brequired bpre-licensing beducation bwithin b12 bmonths bof blicense
bapplication
Under ban bexpense-incurred bindividual bhealth bpolicy, bwhat bis bthe bMAXIMUM blength bof
btime bafter bissuance bof bthe bpolicy bthat ban binsurer bcan bexclude bcoverage bfor ba bpre-
,An binsured bhas ba bhealth bplan bthat bpays bestablished bamounts bin baccordance bwith ba blist
bof binjuries, bsurgical bprocedures, bor bother blosses. bThis blist bis bcalled ba b- b bbenefit
bschedule
benefits bschedule bset bpredetermined blimits bor bmaximums bon bhow bmuch bmoney band
binsured bcan bbe breimbursed bfor ba bcovered bloss.
the b"own boccupation" bdefinition bof btotal bdisability brequires bthat bthe binsured bbe bunable bto
bperform bthe binsured's bcurrent boccupation bas ba bresult bof ban baccident bor bsickness.
Which bapproach bpredicts ba bperson's bearning bpotential band bdetermines bhow bmuch bof
bthat bamount bwould bbe bdevoted bto bdependents? b- b bHuman blife bvalue bapproach
The bhuman blife bvalue bapproach bpredicts ban bindividual's bfuture bearning bpotential band
bdetermines bhow bmuch bof bthat bamount bwould bbe bdevoted bto bdependents.
Index bwhole blife binsurance bcontains ba bsecurities bcomponent bthat bacts bas ba(n) b- b bhedge
bagainst binflation
Phil bis bshopping bfor ban bannuity bthat bguarantees bhe bCANNOT boutlive bthe bbenefits.
bWhich bof bthese bbenefit boptions bwould bhe bchoose? b- b bGuaranteed blifetime bwithdrawal
bbenefit
The bguaranteed blifetime bwithdrawal bbenefit bnormally brequires ba bfee, bbut bit bensures bthat
bthe bincome bbenefit bwill bbe bpaid bfor blife bwithout bactually bannuitizing bthe bcontract.
Which bof bthese bfactors bwould ban binsurer bconsider bwhen bdetermining bwhether bto baccept
ba bgroup blife bplan? b- b baverage bage
and binsurer bwould bconsider bthe baverage bage bwhen bdetermining bwhether bto baccept ba
bgroup bLife bPlan.
This bMANDATORY bhealth bpolicy bprovision bstates bthat bthe bpolicy, bincluding
bendorsements band battached bpapers, bconstitutes b- b bthe bentire binsurance bcontract
bbetween bthe bparties
The bmonthly bbenefit bfor ban bindividual bdisability bincome bpolicy bis busually blimited bto ba
bpercentage bof bthe binsured's bincome bin border bto bavoid b- b bover binsurance
When ban binsurance blicensee bchanges bhis bor bher baddress bunder bthe bMichigan
bInsurance bCode, bwho bMUST bbe bnotified? b- b bthe bcommissioner bof bthe bDepartment bof
bInsurance band bfinancial bservices b(DIFS)
, Jonas bis ba bwhole blife binsurance bpolicyowner band bwould blike bto badd bcoverage bfor bhis
btwo bchildren. bWhich bof bthe bfollowing bproducts bwould ballow bhim bto baccomplish bthis? b- b
bChild bterm brider
A bchild bterm brider bis ba blevel bterm binsurance bthat bcan bbe badded bto ban bexisting bpolicy.
The btypical blong-term bcare binsurance bpolicy bis bdesigned bto bprovide ba bminimum bof b__
byear(s) bof bcoverage. b- b b1
How bmany bemployees bmust ban bemployer bhave bfor ba bterminated bemployee bto bbe
beligible bfor bCOBRA? b- b b20
Which bof bthe bfollowing bpolicies bdoes bNOT bbuild bcash bvalue? b- b bTerm
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