Life insurance and healt - Study guides, Class notes & Summaries

In a Life insurance contract, an insurance company's promise to pay stated benefits is called the -AnswerInsuring Clause All of these are powers of the Commissioner except A. Hold hearings B. Enforce insurance laws C. Incarcerate a producer D. Issue subpoenas -AnswerC An employee with $25,000 group term life coverage was recently fired. This employee's group coverage may be converted to a -Answer$25,000 individual whole life policy The amount of monthly disablility benefits payable ...

CA life and Health: Life Insurance Basics (2024/2025) with Verified Solutions A family's need for income is greatest during the - Answer ️️ -Family Dependency Period Time after the insured has died, leaving a surviving spouse with dependent children to support. Which of the following would be least likely to be considered a legitimate need that would be paid by insurance proceeds? - Answer ️️ -Vacation travel expenses THere are many legitimate need-based expenses that can be paid ...

Insurable Interest - An underwriting test for an application of insurance that demonstrates the person purchasing a policy has a legal interest in the continued longevity of the insured -In life insurance, the owner must have an insurable interest at the time of application (ex. spouse, parent, child, someone with a business relationship with the insured such as partner or employer), insurable interest is not required at the time of the insured's death Stranger/Investor-Owned Life Insu...

-In life insurance, the owner must have an insurable interest at the time of application (ex. spouse, parent, child, someone with a business relationship with the insured such as partner or employer), insurable interest is not required at the time of the insured's death Stranger/Investor-Owned Life Insurance (STOLI)/(IOLI) - ANSWER--In a stranger originated life insurance a third party is involved who has no relation with the policy owner and initiates the purchase of the policy by paying th...

CA life and Health: Life Insurance Basics (2022/2023) with Verified Solutions A family's need for income is greatest during the Family Dependency Period Time after the insured has died, leaving a surviving spouse with dependent children to support. Which of the following would be least likely to be considered a legitimate need that would be paid by insurance proceeds? Vacation travel expenses THere are many legitimate need-based expenses that can be paid by life insurance proceeds, from groc...

Life Insurance (Arkansas Statutes, Rules, and Regs for Life And Health Insurance) Exam

Life Insurance and Health Insurance Questions And Answers Latest Update According to the proof of loss form provision which appears in a health insurance policy, an insurer must send in a claim form to an injured insured within: a. 60 days of notification b. 20 days of notification c. 15 days of notification d. 90 days of notification - ANSWER C. 15 days of notification The claim form provision is also referred to as the "proof of loss form" provision. It states that once the insur...

Tennessee Life and Health Insurance Life Insurance Portion State Exam Simulator 100% Solved In a Life insurance contract, an insurance company's promise to pay stated benefits is called the -Answer Insuring Clause All of these are powers of the Commissioner except A. Hold hearings B. Enforce insurance laws C. Incarcerate a producer D. Issue subpoenas -Answer C An employee with $25,000 group term life coverage was recently fired. This employee's group coverage may be converted to a...

CA life and Health: Life Insurance Basics Exam Prep Questions and Answers (100% Pass)