XCEL LIFE AND HEALTH INSURANCE TEST REVIEW

Period Certain - Answer- Which annuity payout option allows the policy owner to choose a pre-determined number of benefit payments? Life only annuity - Answer- Which annuity payout option has no additional payouts regardless of when the annuitant dies Errors and Omissions - Answer- a professional liability for which producers can be sued for mistakes of putting a policy into effect irrevocable beneficiary - Answer- requires the beneficiary's signature for any change to the beneficiary representations - Answer- statements made by an insurance applicant on an application a specified amount of money - Answer- life insurance policies guarantee the beneficiary what upon the death of the insured Endodontics - Answer- common exclusion on a dental policy Home health care - Answer- Which type of long-term care benefit would be most appropriate for a stroke victim who requires speech therapy administered at her home? March 23, 2010 - Answer- According to the Affordable Care Act, any plan in existence prior to which date is considered a grandfathered plan? Social Security Disability Income (SSDI) - Answer- Which of the following is NOT a type of Medicare Advantage Plan? Preferred Provider Organization plan (PPO) - Answer- Coordination of Benefits regulation applies to all of the following plans EXCEPT 30 days - Answer- Both long-term care insurance and Medicare Supplement policies may be returned by the insured for a full refund within Hospital Indemnity - Answer- Which type of coverage pays an amount per day for hospitalization directly to the insured regardless of the insured's other health insurance? Limited Policies - Answer- Low frequency diseases can be exclusively covered by what kind of health insurance policies?