Exam (elaborations)
TN Life and Health Insurance Exam Questions And Answers Rated A+ New Update Assured Satisfaction
- Course
- Institution
TN Life and Health Insurance Exam Questions And Answers Rated A+ New Update Assured Satisfaction
[Show more]
Content preview
TN Life and Health Insurance Exam100% of money back when you return policy within 10 days of policy delivery - ANS-free look
24 hr a day coverage - ANS-occupational coverage
a corporation, association, partnership, or LLC in the act of selling insurance - ANS-business
entity
a federal law that says all employers with 20 or more employees must provide continuation of
group health insurance to all former employees and dependents at termination of employment
for all reasons except gross misconduct - ANS-Consolidated Omnibus Budget Reconciliation
Act (COBRA)
a legitimate reason to buy life insurance on someone - ANS-insurable interest
a person who sells, solicits, or negotiates insurance - ANS-insurance producer
a rider that at death pays an additional amount of money equal to all premiums paid up to your
time of death - ANS-return of premium
act for a promise - ANS-unilateral
action of creating a monopoly or restricting fair trade in the transaction of insurance -
ANS-boycotting
additional time after its due date to get the premium paid before policy lapses - ANS-grace
period
allows the insured freedom of choice in selecting a health care professional - ANS-preferred
provider organization (PPO)
allows the insured to add additional disability insurance each year the insured knows that their
income will increase considerably - ANS-guaranteed insurability rider
allows the insured to add additional life insurance between the ages of 25-40, every three years
or whenever insured gets married or has children - ANS-guaranteed insurability
allows the insured to adjust the premium, face amount, and term - ANS-adjustable life insurance
allows the insured to carry over expenses paid in 4th qrt of the prior year to reduce current year
deductible when no claims were paid to insured - ANS-carry over provision
, allows the insured to continue to receive a check after returning to work from total disability -
ANS-presumptive disability
an individual other than an insurance producer who sells any of the limited lines of insurance
which the commissioner deems less demanding and do not require professional competency or
a license - ANS-limited insurance producer
an insurance company that is not licensed to do business in the state - ANS-unauthorized
insurer
annuity payment frequency and amount are flexible - ANS-flexible premium payment
annuity payment that is one lump sum payment - ANS-single premium payment
annuity that guarantees the principal, interest, and the amount of the payment - ANS-fixed
annuity
annuity that provides higher interest while protecting principal - ANS-equity index annuity
any conditions the insured sought advice or treatment before the issue date of the policy -
ANS-preexisting conditions
any time the policy owner fails to pay the premium on time, money is automatically borrowed
from cash value and the premium paid - ANS-automatic premium loan
attractive way for a key person to buy life insurance because the employer pays part of the
premium - ANS-split dollar life insurance
both of the parties of the contract must meet certain conditions to make policy legal -
ANS-conditional
check for cash value issued to owner - ANS-cash surrender value
commissioner notifies this group of any suspensions, revocations, or terminations of licenses
and producers - ANS-National Association of Insurance Commissioners (NAIC)
coverage off the job - ANS-nonccupational coverage
coverage on all members of the family that gives bread winner whole life, spouse term up to 65,
and children term up to 18 - ANS-family policy
coverage that covers physical visits - ANS-basic medical coverage
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 Hkane. 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.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
85169 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now