Texas Health and Life Insurance bundled Exams 2023 with 100% correct answers

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 pay the policy proceeds in the amount the premiums would have purchased at the insured's actual age The provision...

At what point must a life insurance applicant be informed of their rights that fall under the Fair Credit Reporting Act? Upon completion of the application Who elects the governing body of a mutual insurance company? policyholders An insurance applicant MUST be informed of an investi...

Why does an insurer have a 2-year suicide clause? a) because the commissioner of insurance requires it. b) suicide is never paid for in life insurance. c)to prevent payment of an immediate claim for a person contemplating suicide. d) to help an insurer be more profitable. Answer: C To prevent ...

Which of these characteristics is consistent with a Straight Life Policy? Premiums are payable for as long as there is insurance coverage in force Which of the following are Equity Indexed annuities typically invested in? S&P 500 Which of the following does Social Security NOT provid...

A certificate of _____ permits an insurance company to transact business in Texas. Authority Which of the following statements about Health Reimbursement Arrangements (HRA) is CORRECT? If the employee paid for qualified medical expenses, the reimbursements may be tax-free The individ...

An annuity promises that, if the annuitant dies before receiving payments equal to the correct value, the payments will be continued to a beneficiary until an amount equal to the contract value has been paid. This type of annuity is called An installment Refund annuity A Straight Life annuity A...

When one party makes an offer and the other accepts At what point does an informal contract become binding? when the application is made when must insurable interest be present in order for a life insurance policy to be valid? Statement guaranteed to be true Which is the following B...

The accounting measurement of an insurer's future obligations to its policy holders Reserves Who elects the governing body of a mutual insurance company? Policyholders A group owned insurance company that is formed to assume and spread liability risks of its members is known as Ris...

In Texas, which of these statements regarding the Suicide clause is True? An Insurer may not use suicide as a defense against payment after the second year S owns a life insurance policy with cash values that fluctuate according to the underlying investment performance of common stocks. Whic...

A man decided to purchase a $100,000 Annually Renewable Term Life policy to provide additional protection until his children finished college. He discovered that his policy Required a premium increase each renewal. Annually Renewable Term policies' premiums are adjusted each year to the insured...

A Variable insurance policy: -guarantees a minimum rate of return -does not allow the policyowner to assume the investment risk -does not guarantee a return on its investment accounts -does not guarantee an assignment provision -does not guarantee a return on its investment accounts Th...

D is an architect receiving Disability Income benefits who is not able to return to work full time, but can work on a part-time basis. Which of these features would allow D to continue receiving benefits? *Residual Benefit clause *Waiver Benefit clause *Concurrent Benefit clause *Guaranteed Be...

Who is considered a field underwriter? An agent When must insurable interest exist in life insurance? Application or issue date If no receipt is issued at the time of application, a statement of good health is usually required at the time of? Policy delivery The Medical Infor...

claimant a person who submits a claim for payment of benefits dividend a payment made by a policy (distribution of profits or returned of unused funds) lapse policy termination due to a non payment of premium Nonforfeiture Values benefits in a life insurance policy that the ...