Indiana Life and Health Insurance State Exam (Part
2)
$720 (4400 deductible + 20% of remaining medical bill) - ANS-C was injured while deep sea
diving and requires a hospital stay. C has a Major Medical policy with a 80/20 coinsurance
clause and a $400 deductible. What is the MAXIMUM C will pay if the covered medical
expenses are $2000?
10 years - ANS-G purchased a Family Income policy at age 40, The policy has a 20-year rider
period. If G were to die at age 50, how long would G's family receive an income?
20-pay life - ANS-J is 35 years old and looking to purchase a whole life insurance policy. Which
of the following types of policies will provide the most rapid growth of cash value?
20% is withheld for income taxes - ANS-An individual participant personally received eligible
rollover funds from a profit-sharing plan. What is the income tax withholding requirements for
this transaction?
26 - ANS-The Affordable Care act (ACA) provides health coverage to dependents up to the age
of:
30 - ANS-ABC Insurance Company fails to pay death proceeds after satisfactory proof of loss
was submitted. ABC must begin paying interest on the death proceeds after ____ days of
receiving proof of loss.
31 - ANS-An insured pays premiums on an annual basis for an individual health insurance
policy. What is the MINIMUM number of days for the Grace Period provision?
ABC is the policyowner, C is the insured, and ABC is the beneficiary - ANS-C is a key employee
at ABC Incorporated. If a Key Employee life policy is purchased on her life, which of these
statements would be true?
Are lower during the policy's early years - ANS-Under a graded premium Policy, the premiums
Conversion Provision - ANS-When a policyowner exchanges a term policy for a whole life policy
without providing proof of good health, which of these apply?
Convert term coverage to a whole life policy - ANS-Which of these actions does NOT constitute
life insurance policy replacement?
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 $7.99. You're not tied to anything after your purchase.
