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Which policy provision permits the policy owner to take a specified number of days to examine the contract, and allows for cancellation and a full refund if the policy owner rejects the terms or costs? Free Look When will a policy pay on a UCR basis? When particular benefits are not listed on a ...

How long after being entitled to disability benefits will an individual be eligible to receive Medicare benefits? A. immediately B. 1 year C. 2 years D. At age 65 2 years What is the return of premium rider? A. an increasing amount of term insurance that always equals the total of premiums pa...

What kind of retirement plan can a 75-employee for profit corporation establish? Simple IRA The taxable portion of a monthly income benefit paid during the annuity phase from a nonqualified annuity is calculated using the Exclusion ratio Unfair claims settlement methods and practices by an insur...

For an individual long-term care policy there is an annual dollar limit for tax deductions that is based on which of the following? 1. age 2. cost of care 3. policy value 4. premium cost 1 The group conversion option is allowed for all of the following EXCEPT 1. termination of the master pol...

Under the misstatement of age or gender provision, what happens if it is determined at death that the insured's age or gender was misstated on a life insurance policy application? Benefits are adjusted to an amount that the premium would have purchased at the correct age or gender. Which of the ...

When delivering a policy to the insured, an agent should carefully explain the? a. sections that the insured is unclear about b. riders or endorsements that have been added to the policy c. entire policy summary, including any riders, exclusions, and costs d. exclusions and preexisting condition...

What happens under a misstatement of age clause on a disability policy? 1. The policy would be terminated and all premiums would be returned to the policy owner. 2. The policy would be terminated and all premiums would be retained by the insurance company. 3. All amounts payable under this pol...

What is it called when a life insurance policy pays a multiple of the coverage amount when certain types of accidents occur? multiple indemnity Upon the issuance of a conditional receipt for a renewal when the premium is paid AFTER the time granted by the insurer, what is the maximum amount of ti...

During which period of a Disability Income Policy is coverage effective but during which no benefits will be paid under the policy? Probationary period All of the following are common exclusions from loss found in disability income policies EXCEPT for that incurred while commiting a misdemeanor ...

A written agreement in which a purchaser agrees to buy and a seller agrees to sell is called a contract Antitrust laws prohibit competing brokers from all of the following 1. boycotting other brokers in the marketplace. 2. dividing the market to restrict competition. 3. agreeing to set sales co...

What is the procedure regarding change of address for a licensee? The commissioner must be notified immediately of any change in the personal, business, or email address. What is the punishment for a person who refuses to deliver books, records, or assets to the commissioner when subject to a sei...