Dread specified disease - Study guides, Class notes & Summaries

Non Cancellable Policies - ANS 1. Also called a noncancellable and guaranteed renewable policy 2. The only right to cancel the noncancellable policy is for nonpayment of premiums 3. The insurer may regain the right to cancel or not to renew when the insured reaches an age specified in the policy Example of what qualifies as a compensable injury under workers compensation coverage - ANS A factory worker fractures an elbow while working overtime *This represents certain...

Which of the following statements can always be made by an agent during a tax qualified Long Term Care insurance policy presentation: - ANSWER-The plan may receive federal and state tax advantages As used in the California Insurance Code the use of the word "may" is: - ANSWER-Permissive Which of the following statements can always be made by an agent during a tax qualified Long Term Care insurance policy presentation: - ANSWER-The plan may receive federal and state tax advantages When...

Medical expense coverage A type of health insurance coverage that provides benefits to pay for the treatment of an insured's illnesses and injuries. Long-term care (LTC) coverage Health insurance that provides benefits for medical and other services to insureds who need care for an extended period in their own homes or in a qualified facility. Disability income coverage Health insurance coverage that provides income replacement benefits to an insured who is unable to work because of sickness ...

LOMA 281 Module 3 Study Questions and Answers Top-Rated correctly Waiver of premium for disability benefit - answerA supplemental life insurance policy benefit under which the insurer promises to give up - to waive - its right to collect premiums that become due while the insured is totally disabled. Waiver of premium for payor benefit - answerA supplemental life insurance policy benefit under which the insurer agrees to waive its right to collect a policy's renewal premiums if the polic...

Life Insurance and Health Insurance Exam Questions and Answers 100% Pass Section 529 Plans - Answer- - state provided - can be funded by after tax dollars - can pay prepaid tuition - All earnings exempt from federal taxes - If withdrawn for unqualified withdrawl, 10% penalty Roth IRA - Answer- private retirement plan that taxes income before it is saved, but which does not tax interest on that income when funds are used upon retirement Distributions don't have to start before 70.5 401...

California Life, Accident, and Health Licensing Exam Questions and Answers 100% Pass Co-insurance - Correct Answer ️️ -The policy provision which requires the insurer and the insured to share in the cost of services rendered Exclusion ratio - Correct Answer ️️ -The formula which is used by the IRS to determine how much is taxable to an annuitant during the pay out period. Occupational policy - Correct Answer ️️ -When a disability income policy provides coverage for injuries wh...

Which of the following types of health insurance covers the cost of providing non-medical custodial care to individuals with cognitive problems? A. Disability income insurance B. Long-term care insurance C. Hospital expense coverage D. Medical Expense coverage B All of the following are characteristics of a group health insurance plan EXCEPT: A. Only group members may be covered. B. There is one master contract B. Each person has a policy D. Benefits are essentially the same for al...

Which of the following types of health insurance covers the cost of providing non-medical custodial care to individuals with cognitive problems? A. Disability income insurance B. Long-term care insurance C. Hospital expense coverage D. Medical Expense coverage B All of the following are characteristics of a group health insurance plan EXCEPT: A. Only group members may be covered. B. There is one master contract B. Each person has a policy D. Benefits are essentially the same for al...

California Life, Accident, and Health Licensing 2024/2025 already graded A+

California Life, Accident, and Health Licensing Already Graded A+ Co-insurance ️The policy provision which requires the insurer and the insured to share in the cost of services rendered Exclusion ratio ️The formula which is used by the IRS to determine how much is taxable to an annuitant during the pay out period. Occupational policy ️When a disability income policy provides coverage for injuries which occur on and off the job Most disability income policies are non occupatio...