XCEL solutions, Questions with accurate answers. Graded A+. 2022/2023. 100% verified.

XCEL solutions, Questions with accurate answers. Graded A+. 2022/2023. 100% verified. A partial surrender is allowed in which of the following life policies? - Universal life All of the following riders can increase the death benefit amount EXCEPT - Waiver of Premium A health insurance policy where the insurer has the right to terminate the policy fr reasons other than the insureds health is called - Conditionally Renewable A proposed insured for a health insurance policy was treated for heart disease within the past year. When applying for health insurance, the heart disease treatment - Indicates a preexisting condition How do interest earnings accumulated in a deferred annuity - On a tax-deferred basis Which of the following statements is NOT true regarding a Critical Illness Plan - Coverage is limited to a single devastating disease Which of these is a TRUE statement regarding HIC's - HIC's operate on a prepayment basis James is insured on a life insurance policy where his age was misstated on the application. Which of the following is CORRECT regarding the death benefit amount? - The death benefit paid will be what the premium would have purchased at the correct age How son can the benefit payments begin with a deferred annuity? - A minimum of 12 months after date of purchase An individual covered under a Blue Cross Blue Shield plan is called a(n) - Participant The policyholder for a group health benefit plan is considered to be the - Employer Intentional withholding of material facts would affect an insurance policies validity is called a(n) - Concealment An example of a health insuring corporation (HIC) specialty care provider is a(n) - Neurologist Which of the following is NOT typically included under "hospital care" for most health insuring corporation (HIC) plans? - Private duty nursing An insurance producer is often responsible for field underwriting during the application process. All fo these are possible field underwriting roles EXCEPT - Providing commission information to the applicant All of these are considered sources of information that can assist an underwriter in determining whether or not to accept a risk EXCEPT - National Association of Insurance Underwriters What is the contract called that is issued to an employer for a Group Medical Insurance plan? - Master policy An example of a presumptive disability would be - deafness Which approach predicts a persons earning potential and determines how much of that amount would be devoted to dependents? - Human life value approach If the beneficiary dies from the same accident as the insured individual, the insurer will proceed as if - the insured outlived the beneficiary An insurer can exclude coverage for a preexisting condition on a Medicare Supplement policy for up to - 6 months Who provides all preventative and routine medical care given to a health insuring corporation (HIC) member? - Primary Care Physician Which of these is NOT a qualifying event for a Medicare? - Falling below the federal poverty level A plan in which an employer pays insurance benefits from a fund derived from the employers current revenues is called - A self - funded plan All of the following riders can increase the death benefit amount EXCEPT - Waiver of Premium A beneficiary change can occur: - Normally at any time during the policy term Maria is a PPO (preferred provider organization subscriber and received care from an out of networks provider. Which of the following is the likely result? - Care is covered Benefits provided by a Medicare Supplement policy must NOT - Duplicate Medicare benefits Unmarried children who are incapable of self support and have proof of incapacity are included under thier parents health coverage until - Policy termination A disability elimination period is best described as a - time deductible Sharon is the policy owner of a $50,000 life insurance policy. Her son, Mike, is the beneficiary. If Sharon MUST obtain Mikes' signature in order to change the beneficiary, what kind of beneficiary designation is this? - Irrevocable Bob and Tom start a business. Since each partner contributes an important element to the success of the business, they decide to take life insurance policies out on each other, and name each other as beneficiaries. Eventually, they retire and dissolve the business. Bob dies 12 months later. The policies continue in force with no change. Both partners are still married at the time of Bob's death. In this situation, who will receive Bob's policy proceeds? - Tom An example of endodontic treatment is a - root canal Which of these is NOT considered to be a purpose of an annuity? - Annuities are intended to create an estate Which of these would be the best example fo limited pay life insurance policy? - Whole life policy with premiums paid up after 20 years Bryce purchased a disability income policy with a rider that guarantees him the option of purchasing additional amounts of coverage at predetermined times without requiring to provide evidence of insurability. What kind of rider is this? - Guaranteed insurability rider What does COBRA fo 1985 allow an employee to do ? - In the event of employment termination, group health insurance can be kept if the employee pats the premiums The focus of major medical insurance is providing coverage for - preventative care What would happen if a life insurance applicant is given a conditional receipt from an insurance agent and then dies the next day? - Claim will be paid if application is approved. Which of the following does Medicare Part D cover ? - Prescription drugs An insurance company advertises an accident and health insurance product in a local Ohio newspaper and refers to dollar amount benefits. This insurer must also disclose which of the following in the advertisement? - Any applicable benefit reduction When comparing an HIC to a PPO, the PPO - provides a greater choice of providers Naming a contingent beneficiary as "all surviving children" is described by which term? - class designation Susan is insured through her Group Health Insurance plan and changed her coverage to an individual plan with the same insurer after her employment was terminated. This change is called a(n) - Conversion An insured individual and the policy's beneficiary die from the same accident. The common disaster provision states the insurer will continue as if - the insured outlived the beneficiary What is known as the immediate specific event causing loss and giving rise to risk? - Peril In an employer-sponsored contributory group Disability Income plan, the employer pays 60% of the premium and each employee pays 40% of the premium. Any income benefits paid are taxed to the employee at - 60% Kate has a Major Medial Plan with a 75/25 coinsurance and a deductible fo $25. How much will she have to pay if she, not having met any of her deductible, visits the doctor and receives a bill for $125 - $50.00 Loss of income insurance provides - an individual the means to replace wages Which dividend option would an insurer invest the policyowner's money and add any interest earnings as the dividends accrue? - Accumulation at Interest Option A provision in a whole life policy that allows a poicy owner to terminate the policy in return for a reduced paid - up policy of the same type is called a(n) - nonforfeiture provision A non-admitted insurer - is not afforded protection by the guaranty fund In contrast to a guaranteed renewable policy, a noncancellable policy - may never raise premiums Which of these gaps in Medicare coverage is addressed with Medicare Supplemental Insurance? - Medicare in-hospital deductible Which of these factors is NOT taken into account when determining - automobile An insured under a major medical expense plan with a zero deductible and 80/20 coinsurance provision files a $1,000 claim. How much of this claim is the insured responsible for? - $200 Level premium term life insurance policies - automatically convert to permanent insurance at a predetermined date in order to activate the reinstatement clause of a lapsed life insurance policy, the insured MUST - provide evidence of insurability to the insurer