Exam (elaborations)
INDIANA LIFE AND HEALTH FINAL EXAM Q&A
- Course
- Institution
INDIANA LIFE AND HEALTH FINAL EXAM Q&A
[Show more]
Content preview
INDIANA LIFE AND HEALTH FINALEXAM Q&A
Which of the following statement about a five-year-old Whole Life policy is CORRECT?
- Answer-If a policyowner stops paying premiums, the policyowner may elect a
Nonforfeiture option
After the expiration of COBRA or state continuation laws, which of the following
statements is correct about the employee who quits the job and wants to convert the
group accident and health coverage to an individual policy - Answer-The employee
does NOT need to provide evidence of insurability
An underwriter evaluation of information on a life insurance application is also known as
: - Answer-risk classification
Which of the following is a contract in which the performance of one or both parties is
contingent upon occurrence of a particular event? - Answer-conditions
Basic cancers plans pay for all of the following EXCEPT: - Answer-physical therapy
An example of a Limited-Pay Life policy is: - Answer-Life Paid- Up at Age 65
A Payor Benefit clause is generally added to a life policy that insures the life of a -
Answer-child
Which of the following statements is CORRECT about conversion of group term life
employment? - Answer-if death occurs during the conversion period, the death benefit
must be paid.
Which of the following policies provide a specified income benefit when the insure cant
work because of illness or accident? - Answer-disability income
Group vision insurance plans typically provide insurance benefits that cover - Answer-
eye exams, lenses, frames, and contact lenses.
The signed document that starts the free look period is the: - Answer-delivery receipt
Under a Guaranteed Renewable provision in a policy issued to a group of person an
insurance company may NOT terminate coverage on a group member if the member: -
Answer-becomes disable
Which of the following statements is generally CORRECT about a major medical policy?
- Answer-it provides benefits for reasonable and necessary medical expense, subject to
policy limits.
, A producer must deliver an Outline of Coverage to a prospective insured who is eligible
for Medicare at which of the following times? - Answer-when the policy is delivered
A life insurer that accepts an incomplete application and issues a policy is obligated to: -
Answer-charge a lower premium for the initial period of coverage
A life insurance policyholder dies of heart failure shortly after the tenth policy
anniversary. The insured failed to disclose the condition and resulting medical
consultation on the application. In this situation, the insurer will most likely: - Answer-
refuse to make any payment.
Which of the following statement is correct about a renewable term policy? - Answer-
The renewal premium is calculated on the basis of the insured's attained age
W applies for life insurance on W's five year old child and submits the initial annual
premium. The producer issues W a receipt and says that coverage will be effective
immediately if the application is approved, because no meeting examination is required.
Which of the following types of receipts did the producer issue - Answer-conditional
Under federal law, a tax-exempt Health Savings Account can only be opened for an
individual who is - Answer-covered by qualified High Deductible health plan
A producer who discover that answers to a series of questions on a life insurance
application were omitted to take which of the following actions - Answer-schedule
another appointment with the applicant to complete the unanswered questions
The policy provision that prevents insurance company from altering its agreement with a
policyowner by the documents or other items not contained in the policy is called the -
Answer-Entire Contract provison
A $100,000 group Accident Death and Dismemberment policy will pay double indemnity
if the insured dies in a commercial airplane crash. If the insured is killed when flying to a
business meeting on a commercial flight, the policy will pay a MAXIMUM of: - Answer-
$200,000
R is an insured under a life policy in which R's spouse is the designated beneficiary.
both are involved in a car accident that results in R's death. R's spouse survives 10
days and then dies. under the common disaster provision in the policy, the benefits are
paid to the - Answer-Insured's Estate
Most insurance companies use the usual, customary, and reasonable ( UCR) charges
to: - Answer-reimburse the employee for expenses charges by the medical facilities
Which of the following statements is CORRECT about the Death benefit of a life
insurance policy? - Answer-It can be assigned by policyowner
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller biggdreamer. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $15.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
80189 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now