Benefits of insurance - Study guides, Class notes & Summaries

Kentucky Life Insurance Exam Prep| Questions and Verified Answers| 100 % Correct| Grade A (Latest 2024/ 2025 Update) Q: Universal Life Insurance Flexible premium, adjustable death benefits, accumulates cash values: earlier models have front-end load, later models have back end load. Insurance costs are debited and guaranteed and excess interest are credited. Q: Universal Life Death Benefit Option A Answer: Level death benefit throughout life of policy (can be increased with pr...

Kentucky Health Insurance Exam | Study Questions and Verified Answers| 100 % Correct| Grade A (New 2024/ 2025 Update) QUESTION Individuals who itemize deductions can claim deductions for medical expenses not covered by health insurance that exceed what percent of their adjusted gross income? A. 5% B. 7% C. 10% D. 15% Answer: C. 10% QUESTION What is another name for an Administrative Services only arrangement? A. Self funding B. Third party administrator C. A modifie...

AINS 103 (Latest 2023/ 2024 Update) Exploring Commercial Insurance Exam Review Questions and Verified Answers| 100% Correct| Grade A Q: Which one of the following is one of the covered causes of loss in the commercial property policy Causes of Loss—Basic form? Answer: Vandalism Q: Billy owns a baseball souvenir store in Cooperstown, NY. He insured his store under a Building and Personal Property Coverage Form (BPP) with a $275,000 limit and a $1,500 deductible. A large fire in ...

Wisconsin Life Insurance Exam Questions With 100% Correct Answers A 60-year-old participant in a 401(k) plan takes a distribution and rolls it over to an IRA within 60 days. Which of the following is true? a) The amount of the distribution is reduced by the amount of a 20% withholding tax b) No taxes are due since the plan participant is over age 59 1/2 c) There is a 10% early withdrawal penalty d) The amount distributed is subject to ordinary income tax - a A claimant, whi is to...

Idaho Life and Health Final Exam Questions and Answers Already Passed What are the benefits that must be provided by an individual health insurance policy for prenatal, maternity, and delivery expenses? Prenatal, maternity, and delivery expenses are required to be covered under all health plans subject to the same deductible and coinsurance as other medical and surgical expenses. Which situation would qualify an individual for receiving benefits from a qualified long-term care policy?...

Annuity Certain - ANSWERSMaria would like an annuity that provides a guaranteed accumulation or payout. The type of annuity she is seeking is called Survivorship Life - ANSWERSThe type of policy which pays on the death of the last person is called Malign another insurer - ANSWERSDefamation occurs when a producer makes a false statement intended to A 70 year old NOT eligible for Social Security *You are not eligible to receive Medicare Part A benefits at age 65 or older if you are el...

Transferring the risk to an insurance company is known as what? Correct Answer Insurance When the insured request to have the company change a condition or provision in an insurance policy the document attach to the policy is referred to as what? Correct Answer Endorsement George and Sandy only home which was damaged by fire who has insurable interest Correct Answer George and Sandy What is the most common loss settlement valuation in the property policies? Correct Answer Actual cash va...

Florida 2-15 Insurance Final Exam Test Bank (All Chapters complete 1-30, Questions and Answers, 100% Verified) Latest 2023/2024 1. A life insurance company is organized in Orlando where it maintains its home office. In Florida, the company is classified as a a. domestic company b. local company c. foreign company d. preferred company a 2. With regard to life insurance, all of the following statements are correct EXCEPT a. all individuals are considered to have insurable interests i...

Missouri Life and Health Exam Questions and Answers 100% Pass In a Life insurance contract, an insurance company's promise to pay stated benefits is called the: a) insuring clause b) consideration clause c) entire contract d) owner's rights insuring clause under which circumstance MUST a health insurer have an expedited grievance review procedure? when the enrollee's life or health is jeapordized The Consideration clause in a life insurance contract contains what pertinent information? ...