Missouri health Study guides, Class notes & Summaries

Adverse Selection - Answer insuring of risks that are more prone to losses than the average risk agent/producer - Answer legal representative of insurance company producer - Answer includes agents and brokers agent - Answer agent of the insurer applicant - Answer a person applying for insurance beneficiary - Answer person who receives benefits of an insurance policy death benefit - Answer the amount paid upon death of the person insured through life insuran...

Consideration -ANSWER something of value that each party gives to the other Warranty -ANSWER absolutely true statement upon which the validity of the policy rests Representation -ANSWER statements believed to be true to the best of one's knowledge but not guaranteed to be true. misrepresentations -ANSWER untrue statements that void the policy material misrepresentation -ANSWER a statement that, if discovered, would alter an insurance company's underwriting decision. Intentional ...

Missouri Health insurance Questions 1 Consideration -ANSWER something of value that each party gives to the other Warranty -ANSWER absolutely true statement upon which the validity of the policy rests Representation -ANSWER statements believed to be true to the best of one's knowledge but not guaranteed to be true. misrepresentations -ANSWER untrue statements that void the policy material misrepresentation -ANSWER a statement that, if discovered, would alter an insurance company's...

Which of the following entities has the authority to make changes to an insurance policy? -ANSWER Insurers executive officer What is the purpose of a conditional receipt? -ANSWER It is intended to provide coverage on a date prior to the policy issue When a disabled dependent child reaches the age limit for coverage, how long does the policy owner have to provide proof of dependency in order for the dependent to remain covered under the policy? -ANSWER 31 days In comparison to consumer r...

Consideration - Answer something of value that each party gives to the other Warranty - Answer absolutely true statement upon which the validity of the policy rests Representation - Answer statements believed to be true to the best of one's knowledge but not guaranteed to be true. misrepresentations - Answer untrue statements that void the policy material misrepresentation - Answer a statement that, if discovered, would alter an insurance company's underwriting decision. ...

Consideration - something of value that each party gives to the other Warranty - absolutely true statement upon which the validity of the policy rests Representation - statements believed to be true to the best of one's knowledge but not guaranteed to be true. misrepresentations - untrue statements that void the policy material misrepresentation - a statement that, if discovered, would alter an insurance company's underwriting decision. Intentional misrepresentation - Considered fraud b...

Missouri Health and Life |Practice Test 1 Questions & Answers 100% accurate! Which of the following entities has the authority to make changes to an insurance policy? -ANSWER Insurers executive officer What is the purpose of a conditional receipt? -ANSWER It is intended to provide coverage on a date prior to the policy issue When a disabled dependent child reaches the age limit for coverage, how long does the policy owner have to provide proof of dependency in order for the dependent t...

Missouri Health Insurance Questions With Correct Answers

Missouri Health & Life |Practice Test 1 Questions & Answers!!