OHANANCIETA

Which of these will typically authorize treatment from a specialist? - ANSWER Gatekeeper A life insurance policyowner is allowed ___ days upon policy deli every to return the policy for a full premium refund - ANSWER 10 All of the following are examples of a business continuation plan EXCEPT - ANSWER Deferred compensation The IRS states that a taxpayer's medical expenses that exceed 7.5% of their adjusted gross income tax deductible. Which of the following may be considered a medical e...

Which of these annuities require premium payments that vary from year to year? - ANSWER Flexible Premium Deferred Annuity A limited payment whole life policy provides lifetime protection - ANSWER lifetime protection Which of the following does Coordination of Benefits allow? - ANSWER Which of the following does Coordination of Benefits allow? Allows the secondary payor to reduce their benefit payments so no more than 100% of the claim in paid Which approach predicts a person's earning ...

Which of these annuities require premium payments that vary from year to year? - ANSWER Flexible Premium Deferred Annuity A limited payment whole life policy provides lifetime protection - ANSWER lifetime protection Which of the following does Coordination of Benefits allow? - ANSWER Which of the following does Coordination of Benefits allow? Allows the secondary payor to reduce their benefit payments so no more than 100% of the claim in paid Which approach predicts a person's earning ...

Which settlement option pays a stated amount to an annuitant, but no residual value to a beneficiary? - ANSWER Life income Someone needing custodial care at home would require which type of coverage? - ANSWER Long term care coverage Which of these is not considered a supplemental health insuring corporation (HIC) service? - ANSWER Outpatient medical services An employer may qualify for health care tax credits through SHOP Marketplace if that employer has fewer than how many employees? -...

Accidental Death Insurance - ANSWER A form of Health Insurance that provides payment if death of the insured results from an accident. Is often combined with dismemberment insurance Accumulation at Interest Option - ANSWER A dividend option under which the policy owner allows dividends to accumulate at interest with the company. Only the interest on the dividends is taxable as income. Aleatory Contract - ANSWER A contract in which both parties know that one or the other may receive more th...

What type of report provides information about an applicant's hobbies, habits, and financial status? - ANSWER Investigative consumer report What are the three factors that determine the premium for a particular life insurance policy? - ANSWER Mortality, interest, expense How does the premium mode affect the total premium paid for insurance for the year? - ANSWER Higher frequency of payments will result in higher overall premium Can insurers advertise the existence of the guaranty assoc...

According to the law of large numbers, how would losses be affected if the number of similar insured units increases? - ANSWER Predictability of losses will be improved Which of the following can be defined as "the potential for loss"? - ANSWER Risk An insurer has a contractual agreement which transfers a portion of its risk exposure to another insurer. What type of contractual arrangement is this? - ANSWER Reinsurance contract Which of these statements regarding insurance is false? -...

What is the name of the provision which states that a copy of the application must be attached to the policy when issued? - ANSWER Entire Contract Which of the following is INELIGIBLE to participate in a Section 125 Plan? - ANSWER An S-Corp Owner with a greater than 2% share The reinstatement provision in a health insurance policy is - ANSWER mandatory A nonparticipating policy will - ANSWER not pay dividends Erica is 35 years old and owns an IRA. At what age can she begin to receive...

Absolute Assignment - ANSWER The assignment by the policy owner of all control and rights to a third party. This differs from collateral assignment, which allows all the rights and control to revert to the owner once a loan is paid off Accident - ANSWER A fortuitous event; unforeseen and unintended Accidental Death Insurance - ANSWER A form of health insurance that provides payment if death of the insured results from accident. Accidental death insurance is often combined with dismembermen...

Premiums paid that exceed 7 1/2% of an insured's Adjusted Gross Income (AGI) are tax-deductible when paid for which of the following plans? - ANSWER Qualified Long-Term Care plan All _____ policies must be guaranteed renewable. - ANSWER long-term care An attending physician's statement would be appropriate for which life insurance purpose? - ANSWER At the request of the insurer to assist in the underwriting decision Craig submits a $500 claim for medical expenses. With a past due prem...