NYS Life, accident, and health insurance Exam Correct 100%
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NYS Life, accident, and health insurance
Institution
NYS Life, Accident, And Health Insurance
Which type of life insurance policy is best suited for paying off the outstanding balance of a 30-year mortgage in the event of the insured's death? - ANSWER 30-year decreasing term.
How many days notice does the ACA require insurers to give before rescinding coverage? - ANSWER 30
NYS Life, accident, and health insurance Exam Correct
100%
Which type of life insurance policy is best suited for paying off the
outstanding balance of a 30-year mortgage in the event of the insured's
death? - ANSWER 30-year decreasing term.
How many days notice does the ACA require insurers to give before
rescinding coverage? - ANSWER 30
A signed good health statement may be requested by a life producer at
the time of - ANSWER Policy Delivery
, Carol purchases a whole life policy that provides a choice of dividend
options. This policy is required to include a statement that the dividends
are - ANSWER Not Guaranteeed
Tim is confined to a nursing home but doesn't have a terminal illness.
Which life insurance rider is designed to help pay for this type of
expense? - ANSWER Long-term care benefit rider
An insured is covered under a group long-term disability policy. Under
this type of policy, the definition of disability based on any occupation
typically applies - ANSWER After two years of disability
Sylvia purchased an annuity for $100,000 from the proceeds of an
inheritance. No further payments are permitted and the income stream
, begins in 15 years. This contract is a(n) - ANSWER Single premium
deferred annuity
Which of these is NOT a factor that influences group health insurance
underwriting? - ANSWER Physical exams of group members
What is the grace period required for an individual accident and health
insurance policy with monthly premiums? - ANSWER 10 days
In regards to technology and the ACA, which of the following statements
is correct? - ANSWER States which operate with an Exchange must offer
an internet-based portal
, Insurable interest involves what assumption? - ANSWER One person
benefits from another person's continued life
Which of these policies is considered a whole life policy? - ANSWER
Single premium life
Which of the following would be considered an unfair claims settlement
practice? - ANSWER Misrepresenting pertinent policy provisions relating
to coverage after a loss
A policyowner is permitted to take out a policy loan on a whole life
policy at what point? - ANSWER When the policy has a cash value
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