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missouri life accident and health exams Questions and Answers
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  • Missouri life accident and health
  • Institution
  • Missouri Life Accident And Health

any transaction which new life insurance or a new annuity is purchased - ANSWER-Replacement is the company that issuse the new policy - ANSWER-Replacing insurer is the company whose policy is being replace - ANSWER-Existing insurer that is signed by both the applicant and the producer a co...

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Document information

  • May 18, 2024
  • 5
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

Subjects

  • missouri life accident and health exams questions
  • missouri life accident and health exams stuvia
  • any transaction which new life insurance or a new

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  • Missouri life accident and health
  • Missouri life accident and health

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IMORA

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missouri life accident and health exams
Questions and Answers

any transaction which new life insurance or a new annuity is purchased - ANSWER-
Replacement



is the company that issuse the new policy - ANSWER-Replacing insurer



is the company whose policy is being replace - ANSWER-Existing insurer



that is signed by both the applicant and the producer a copy must be left with applicant -
ANSWER-notice Regarding replacement



by existing insurer or its producers or by broker to dissuade a current policy-owner from
the replacement - ANSWER-Conservation



policy loan interest rates may not exceed 8%per year - ANSWER-policy loan rates



the insured under a group life policy may assign any incidents of ownership under the
policy - ANSWER-assignabiliy



life insurance policies issued in the state of Missouri may exclude within 2 year -
ANSWER-suicide exlusion



this provision stipulates that life insurance policies must include a notice of any war or
aviation - ANSWER-war and aviation exclusion



provision in group life policies states that policyholders are entitled to grace period of 31
days - ANSWER-grace period



policy may not be contested after the policy has been in force for 2 years unless for
nonpayment of premium - ANSWER-Incontestability

, stating that copy of the application must be attached to the policy - ANSWER-entire
contract



indicating that all statements made by the insured are considered representations and
not warranties - ANSWER-Representation



setting forth conditions under which the insurer reserves the right to require evidence of
individual insureablility - ANSWER-Evidence of insurability



specifying an Equitable adjustment of premium or benefits - ANSWER-misstatement of
age & sex



stating that insure will issue the policyholder for delivery to each individual insured a
certificate specifying the insurance protection - ANSWER-certificate of insurance



special type of coverage written to insure the life of the debtor and pay off the balance
of loan in the event of the death of the debtor - ANSWER-credit



insurance cannot pay out more than the balance of the det - ANSWER-credit life



credit life insurance can be issued only as an individual - ANSWER-term plan



be licensed and good standing in this state

& maintain capital of 2,500,000 - ANSWER-company Qualifications



all riders and endorsements applications must be approved by the director before they
are delivered - ANSWER-Variable life insurance



The investment held in the separate account at least annually & statement to director -
ANSWER-Reports & Examinations

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