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Indiana laws and Rules
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Indiana laws and Rules
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Indiana laws and Rules-Group life coverage can be converted to an individual policy at regular rates on an attained-age
basis - ANS-Which of the following is a standard provision of the conversion privileges in a
group life policy?
-group life coverage can only be converted if the employer pays for the individual policy
-Group life coverage can normally be converted to an individual policy within six months
-Group live coverage can Only be converted by providing evidence of insurability
-Group life coverage can be converted to an individual policy at regular rates on an attained age
basis
31 days - ANS-In the event of employment termination, a person covered by a group policy also
has the right to convert such coverage to an individual policy within ____ days without proving
insurability.
producer - ANS-The _____ Must provide an insured with proper disclosure concerning the
replacement of a life insurance policy.
The premium cost for basic coverage applied for. - ANS-When a life insurance application is
completed, a policy summary must be given to the applicant. The policy summary MUST include
require evidence of insurability - ANS-According to Indiana law, group life insurance conversion
privileges must NOT:
Producer - ANS-Existing life insurance policy has been replaced by a new one. I notice of
replacement must be provided by the _______ to be signed by the applicant.
A transaction in which a new policy as bought an old policy is terminated - ANS-What is
Indiana's definition of life insurance replacement?
Producer represents more than one insurance company - ANS-Which of the following actions by
a producer would NOT result in a license suspension or revocation?
20 - ANS-A person insured under a health policy is required to give the insurance company a
Notice of Claim within how many days after a covered loss?
producer - ANS-According to Indiana law, which party is responsible for determining the
appropriateness of a Long Term Policy presented to a potential Applicant?
, Producer is insolvent - ANS-Which of the following is NOT a reason for the commissioner to
revoke a producer's license?
Medical condition resulting in a significantly-shortened lifespan. - ANS-Life insurance coverage
will frequently contain an accelerated benefits rider attached to the policy. What would be
considered a "qualifying event" under these riders?
Be organized under Indiana insurance laws. - ANS-A domestic insurance company in Indiana
MUST:
funded by admitted insurance companies through assessments. - ANS-The life and health
insurance Guaranty association is:
Every two years - ANS-How often must an insurance producer's license in in Indiana be
renewed?
certificate holder - ANS-an individual covered under a Group Life insurance policy is considered
to be a(n):
The premium is paid. - ANS-P's individual health policy is now in the Grace Period. P's coverage
will remain in force if:
30 days - ANS-According to Indiana law, how long is the right of return for a Long term care
policy?
Misrepresentation - ANS-Convincing a prospective insured to buy an insurance policy based on
exaggerations is considered to be a form of:
Defamation - ANS-And insured distribute public brochures that contain a false statement
regarding a competitors ability to pay claim. This act is considered an example of:
To determine the solvency of the company - ANS-Why was the commission examine the record
of an insurance company?
One mammogram every year for women aged 40 and over - ANS-According to Indiana's
mammography coverage statute, which of these benefits are considered mandatory in every
medical expense policy?
Accidental death and dismemberment - ANS-Which of the following is not a required provision
in a group life policy?
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