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Which type of life insurance policy is best suited for paying off the outstanding balance of a 30-year mortgage in the event of the insured's death? - ANSWER 30-year decreasing term. How many days notice does the ACA require insurers to give before rescinding coverage? - ANSWER 30

NYS Life, accident, and health insurance Exam fully solved

NYS Life, Accident, And Health Insurance Exam/ 385 Q&A. Terms like: In regards to technology and the ACA, which of the following statements is correct? - Answer: States which operate with an Exchange must offer an internet-based portal Insurable interest involves what assumption? - Answer: One person benefits from another person's continued life Which of these policies is considered a whole life policy? - Answer: Single premium life

NYS Life, Accident, And Health Insurance Exam/ 385 Q&A. Terms like: An insured is covered under a group long-term disability policy. Under this type of policy, the definition of disability based on any occupation typically applies - Answer: After two years of disability Sylvia purchased an annuity for $100,000 from the proceeds of an inheritance. No further payments are permitted and the income stream begins in 15 years. This contract is a(n) - Answer: Single premium deferred annuity

NYS Life, Accident, And Health Insurance Exam/ 385 Q&A. Terms like: Which type of life insurance policy is best suited for paying off the outstanding balance of a 30-year mortgage in the event of the insured's death? - Answer: 30-year decreasing term. How many days’ notices does the ACA require insurers to give before rescinding coverage? - Answer: 30 A signed good health statement may be requested by a life producer at the time of - Answer: Policy Delivery

NYS Life, accident, and health insurance Exam 2024/25

A "premature" distribution from a modified endowment contract (MEC) incurs a penalty tax of - 10% A certificate of coverage for a group health policy is best described as - proof of coverage for the employee A comprehensive group policy also covers expenses related to vision care. Which of the following is not typically covered under a vision plan? - Cataract surgery A comprehensive major medical health insurance policy contains an Eligible Expenses provision which identifies the types ...