Policyowner - Study guides, Class notes & Summaries

SI Life Exam Questions and Answers 100% Pass What kind of retirement plan can a 75-employee for profit corporation establish? Simple IRA The taxable portion of a monthly income benefit paid during the annuity phase from a nonqualified annuity is calculated using the Exclusion ratio Unfair claims settlement methods and practices by an insurance company include all of the following acts EXCEPT failure to pay all claims that are reported within 90 days after a loss occurs The settlement option t...

Barbara's policy includes a rider which allows her to purchase additional insurance at specific dates or events without evidence of insurability. This rider is called a(n) Answers>>Guaranteed insurability rider A guaranteed insurability rider allows for the insured to purchase additional insurance at specific dates or events without evidence of insurability. Disability Income plans which require that the insurer can NEVER change or alter premium rates are usually considered Answers&...

Xcel Life Insurance Exam 1. Replacement regulation is designed to protect: Policyowners from mirepresentation and loss of benefits 2. All Health Benefit Plans issued after January 1, 2014 must provide: Preventative health services 3. Which of these will have the highest monthly payout upon annuitization: - Straight life

A medical expense policy that establishes the amount of benefit paid based upon the prevailing charges which fall within the standard range of fees normally charged for a specific procedure by a doctor of similar training and experience in that geographic area is known as Usual, customary and reasonable What provision would prevent an insurance company from paying a reimbursement claim to someone other than the policyowner? Payment of Claims All of the following are true about gr...

During replacement of life insurance, a replacing insurer must do which of the following? A Send a copy of the Notice Regarding Replacement to the Department of Insurance B Obtain a list of all life insurance policies that will be replaced C Guarantee a replacement for each existing policy D Designate a new producer for a replaced policy - ANSWER-B Which of the following documents must be provided to the policyowner or applicant during policy replacement? A Buyer's Guide and Policy ...

What is the term for how frequent a policyowner is required to pay the policy premium? correct answer: Mode Which of the following statements is true about a policy assignment? correct answer: It transfers rights of ownership from owner to another person During partial withdrawal from a university life policy, which portion will be taxed? correct answer: Interest Which of the following riders is often used in business life insurance policies when the policyowner needs to change the i...

Xcel solutions final exam Maryland Life and health questions and answers 100% pass What is normally the consequence for NOT obtaining preadmission certification prior to receiving inpatient medical care? A reduction in benefits A group-owned insurance company that is formed to assume and spread the liability risks of its members is known as a Risk retention group During the application process, a statement made by an applicant that becomes part of the contract is considered to be a(n) Warrant...

Florida Life and Health Insurance State Exam Review (2-15) Questions and Answers Under Florida Law, which of the following provisions is NOT required in a medicare supplement policy? - Ans: -limitation on pre-existing conditions for up to 12 months M's insurance company denied a reinstatement application for her lapsed health insurance policy. The company did not notify M of this denial. How many days from the reinstatement application date does the insurance company have to notify M of the...

LA Life, Health & Accident Insurance Series 103 Practice Exam Questions and Answers Already Passed Under which situation must insurable interest exist between the applicant and insured at the time of application? When a third-party applicant names themselves beneficiary. Which of the following is true about a decreasing term life policy? The face amount reaches zero at policy expiration. Which of the following occurs immediately after the application is submitted and the initial premium paid?...

Exam Simulator FL-LH - FL Health and Life and Annuity 100% Pass A non-contributory plan requires _________ participation of all eligible employees 100% A characteristic of preferred provider organizations (PPOS) would be: Discounted fees for the patient Which of the following areas of state regulation is NOT protected by the saving clause in ERISA? Commerce Additional coverage can be added to a whole Life policy by adding a(n): decreasing term rider What benefit does the payor clause on a Ju...