Final Exam Review - Texas Life And Health Questions And Answers Rated A+ 2024.
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Texas life and health
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Texas Life And Health
Final Exam Review - Texas Life And Health Questions And Answers Rated A+ 2024.
If, at the time of an insured's death, the insurance company discovers that the insured's age was misstated on the application for life insurance, the company will most likely - correct answer. pay the ...
Final Exam Review - Texas Life And Health
Questions And Answers Rated A+ 2024.
If, at the time of an insured's death, the insurance company discovers that the insured's
age was misstated on the application for life insurance, the company will most likely -
correct answer. pay the policy proceeds in the amount the premiums would have
purchased at the insured's actual age
The provision in a health insurance policy that suspends premiums being paid to the
insurer while the insured is disabled is called the: - correct answer. Waiver of
Premium
P and Q are married and have three children. P is the primary beneficiary on Q's
Accidental Death and Dismemberment (AD&D) policy and Q's sister R is the contingent
beneficiary. P, Q, and R are involved in a car accident and Q and R are killed instantly.
The Accidental Death benefits will be paid to: - correct answer. P only
Which of these statements accurately describes the Waiver of Premium provision in an
Accident and Health policy? - correct answer. *Premiums are waived after the insured
has been totally disabled for a specified time period
(The Waiver of Premium provision waives the payment of premiums after the insured
has been totally disabled for a specified period of time.)
All of the following provisions must be included in life insurance policies EXCEPT -
correct answer. All of the following provisions must be included in life insurance
policies EXCEPT
Q applied for life insurance and submitted the initial premium on January 1. The policy
was issued February 1, but it was not delivered by the agent until February 7. Q is
dissatisfied and returns the policy February 13. How will the insurer handle this
situation? - correct answer. olicy was returned within the free-look period, premium
will be fully refunded
, Who can purchase a plan through the Marketplace? - correct answer. Any legal
resident except those incarcerated
A major medical policy typically: - correct answer. provides benefits for reasonable
and necessary medical expenses, subject to policy limits
Which of the following BEST describes a short-term medical expense policy? - correct
answer. Nonrenewable
A Whole Life Insurance Policy endows when the - correct answer. Cash value equals
the death benefit
The insuring clause - correct answer. States the scope and limits of the coverage
An insurer must provide an insured with claim forms within __ days after receiving
notice of a loss. - correct answer. 15
A Family Income Policy is a combination of Whole Life and - correct answer.
Decreasing term insurance
T and S are named co-primary beneficiaries on a $500,000 Accidental Death and
Dismemberment policy insuring their father. Their mother was named contingent
beneficiary. Five years later, S dies of natural causes and the father is killed in a scuba
accident shortly afterwards. How much of the death benefit will the mother receive? -
correct answer. $0
Which of these statements describe a Modified Endowment Contract (MEC)? - correct
answer. Exceeds the maximum amount of premium that can be paid into a policy and
still have it recognized as a life insurance contract
What group term life feature permits an individual to depart from the group and continue
to be covered without providing evidence of insurability? - correct answer. conversion
An insurance company may be judged guilty of false advertising if it - correct answer.
exaggerates its dividends in a newspaper advertisement
A policy of adhesion can only be modified by whom? - correct answer. the insurance
company
Variable Whole Life Insurance can be described as: - correct answer. both an
insurance and securities product
Which type of contract liquidates an estate through recurrent payments? - correct
answer. annuity
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