Xcel solutions final exam
Insuring Which health policy clause specifies the amount of benefits to be paid - Answer ️️ -
Insuring
The investment gains from a universal life policy usually go to - Answer ️️ -The cash value
L takes out a life insurance policy and dies 10 years later. Durin...
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Xcel solutions final exam Insuring Which health policy clause specifies the amount of benefits to be paid - Answer ✔️✔️-
Insuring The investment gains from a universal life policy usually go to - Answer ✔️✔️-The cash value L takes out a life insurance policy and dies 10 years later. During the claim process, the insurer finds out that the applicant misstated their age. What will the insurer do? - Answer ✔️✔️-Adjust the death benefit to a reduced amount An employee is covered under a company group life plan with a $50,000 death benefit. What is the Maximum amount a spouse may be insured for under this program - Answer ✔️✔️-$25,000 M is insured under a basic hospital/surgical expense policy. A physician performs surgery on M. What determines the claim M is eligible for - Answer ✔️✔️-Determined by the terms of the policy A(n)__ -_-_-_-_-_-_-_ beneficiary may be changed by the policy owner without the consent of the beneficiary - Answer ✔️✔️-Revocable What is the MINIMUM benefit period that must be offered by a long term care policy - Answer ✔️✔️-12 months To terminate an agent's appointment, an insurance company must - Answer ✔️✔️-Send termination notice to the Texas Department of Insurance An agent gives a conditional receipt to a client for an insurance policy after collecting the initial premium. When will the policy become effective? - Answer ✔️✔️-When the conditions of the receipt are m et Which of the following costs would a Basic Hospital/Surgical policy cover? - Answer ✔️✔️-
Surgically removing a facial birthmark Which of the following statements is CORRECT about an agent who is taking an insurance application - Answer ✔️✔️-The agent sh ould have the applicant initial any changes made on the application Which statement is true about a whole life policy - Answer ✔️✔️-Cash value may be borrowed against How long does an insurance company appointment remain in force - Answer ✔️✔️-Until termin ated Which of the following statements about health coverage for newborns is NOT true? - Answer ✔️✔️-Coverage is LIMITED to only congenital defects Medicare Part A and Part B do NOT pay for - Answer ✔️✔️-Dental care An insurance company receives E's applic ation for an individual health policy. E did not complete all of the medical history questions because she could not remember the exact dates. E signed the policy and submitted it to the insurance company anyway. A few weeks later, E suffers a heart attack and is hospitalized without completing the medical history questions and paying the initial premium. E is not insured. Which of the following clauses details the conditions that E did not meet? - Answer ✔️✔️-Consideration clause The percentage of an indiv iduals primary insurance amount determines the benefits paid in which of the following programs - Answer ✔️✔️-Social Security Disability Income Q is severely injured in an automobile accident and becomes totally disabled. How many months must Q be disabled before being able to apply for Social Security disability benefits? - Answer ✔️✔️-5 months After an insured gives notice of loss, what must he/she do if the insurer does not furnish forms - Answer ✔️✔️-File written proof of loss Which of the following typ es of care is typically not covered in a long term care policy - Answer ✔️✔️-acupuncture Which of these does not constitute policy delivery - Answer ✔️✔️-Policy issued with a rating Which type of plan normally includes hospice benefits - Answer ✔️✔️-Manage d care plans Non-occupational disability coverage is designed for - Answer ✔️✔️-Employees who suffer non work related disabilities, since work related disabilities are covered by workers compensation A policy of adhesion can only be modified by whom - Answ er ✔️✔️-The insurance company G is an accountant who has ten employees and is concerned about how the business would survive financially if G became disabled. The type of policy which best addresses this concern is: - Answer ✔️✔️-Business overhead expense An architecture firm would stand to lose a lot of money in the event of the death of its project manager. Which type of policy should the firm purchase - Answer ✔️✔️-Key person life policy A new general property and casualty licensee must complete at LEAST ____ hours of continuing education within 24 months of initial licensure - Answer ✔️✔️-24 Which of the following groups may not be insured by a group life insurance policy - Answer ✔️✔️-Individuals who are related by blood In Texas, which of these stateme nts regarding the suicide clause is true - Answer ✔️✔️-An insurer may not use suicide as a defense against payment after the second year Why is an applicants signature required on a life insurance application - Answer ✔️✔️-To attest that the statements on the application are accurate to the best of the applicant's knowledge The phrase "transacting business" includes - Answer ✔️✔️-Collecting premiums Which of these arrangements allows one to bypass insurance interest laws? - Answer ✔️✔️-
Investor -Originated Life Insurance With whom may an agent legally share commissions? - Answer ✔️✔️-Another agent with the same Line of insurance An agent take s an individual disability income application, collects the premium, and issues the prospective insured conditional receipt. The next step the insurance company will take is to: -
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