Arizona life and Health Insurance|| 2024 LATEST UPDATE|| CORRECT QUESTIONS & ANSWERS|| VERIFIED A+
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Course
Arizona life and Health Insurance
Institution
Arizona Life And Health Insurance
Who is involved in completing the agents reports - ANSWER Only the agent
Which of the following is a feature of a variable annuity - ANSWER Benefit payment amounts are not guaranteed
The omnibus budget reconciliation act of 1990 (obra) requires that large group health plans must provide prima...
Arizona life and Health Insurance|| 2024
LATEST UPDATE|| CORRECT QUESTIONS &
ANSWERS|| VERIFIED A+
Who is involved in completing the agents reports - ANSWER Only the agent
Which of the following is a feature of a variable annuity - ANSWER Benefit payment amounts are not
guaranteed
The omnibus budget reconciliation act of 1990 (obra) requires that large group health plans must
provide primary coverage for disabled individuals under - ANSWER Age 65 not retired
The individual applied for an insurance policy and paid the initial premium. The insurer issued a
conditional receipt. Five days later the applicant had to submit to a medical exam. If the policy is issued
what would be the policy's effective date? - ANSWER The date of medical exam
Which of the following is designed to protect security and confidentiality of nonpublic information and
the security of the information system - ANSWER Information security program
Which benefits would a disability plan most likely pay - ANSWER Income lost by the insurer's inability to
work
In order to qualify for conversion from a group life policy that had been terminated to an individual
policy of the same coverage, the person must be insured under the group plan for how many years -
ANSWER 5
2 health plans- under own and spouse. Suffered loss of 2000. After insured paid the total of 500 in
deductibles and coin insurance , the primary covered 1500 of medical expenses. What about will be paid
by the secondary insurer? - ANSWER 500
, An applicant buts a non qualified annuity but dies before the starting date. For which of the following
beneficiaries would interest accumulated in the annuity not be taxable - ANSWER
applicant - ANSWER a person applying for insurance
Agent/Producer - ANSWER a legal representative of an insurance company; the classification of producer
usually includes agents and brokers; agents are the agents of the insurer
Liquidation - ANSWER selling assets in order to raise capital
lump sum - ANSWER payment of the entire benefit in one sum
Solvency - ANSWER ability to meet all financial obligations
accumulate - ANSWER build up
Attained Age - ANSWER The insured age at time the policy is renewed or replaced
cash value - ANSWER a policy's savings element or living benefit
deferred - ANSWER postponed or delayed
endow - ANSWER Cash value of whole life policy reach the contractual face amount
Face Amount - ANSWER the amount of benefit stated in the life insurance policy
Fixed Life Insurance - ANSWER contracts that offer guaranteed minimum or fixed benefits
lapse - ANSWER policy termination due to nonpayment of premium
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