Stop loss reinsurance - Samenvattingen, Aantekeningen en Examens

Why was health insurance developed? - ANSWER-To provide financial protection to an employee in the event they required health care. Most insurance policies require a monetary contribution from the covered individual which is called a: - ANSWER-co-payment, deductible, and co-insurance. The Flexible Spending Account (F.S.A.) has the following characteristics: - ANSWER-an option of setting aside pretax income to pay for out-of-pocket medical expenses, the funds accumulated over a year must be...

Why is a life insurance policy's delivery date important? - The free look begins on the policy delivery date An agent's attempt to stop the replacement of an existing life insurance policy is known as - conservation Which of the following does not have to be included on life insurance policy illustrations? - Statement that all values and benefits are guaranteed Who does a life settlement broker represent? - Individual wanting to sell their life policy to a third party Life insurance su...

Which of the following represents uncertainty about outcomes that can be negative or positive? Correct Answer Risk The primary role of insurance is to Correct Answer Indemnify individuals and organizations for covered losses. The insurance agent suggested that Sally's Snack Shop buy a policy that combines property, crime, and liability coverage into one policy. This is referred to as as a(n) Correct Answer Commercial package policy (CPP) Coverage for money and other business property f...

XCEL TESTING SOLUTIONS - CALIFORNIA PRELICENSING EDUCATION - LIFE, ACCIDENT AND HEALTH INSURANCE VERIFIED CORRECT . When an insurance company requests an attending physician's report, the request must be accompanied by a Copy of the signed authorization Which of the following is NOT a required uniform provision in individual health policies? Change of occupation "Life insurance creates an immediate estate". This phrase means When the insured dies, a death benefit is paid A person who a...

XCEL TESTING EXAM QUESTIONS WITH SOLUTIONS Latest Updated 2024 (GRADED) When an insurance company requests an attending physician's report, the request must be accompanied by a Copy of the signed authorization Which of the following is NOT a required uniform provision in individual health policies? Change of occupation "Life insurance creates an immediate estate". This phrase means When the insured dies, a death benefit is paid A person who asserts a right of recovery under an insuranc...

Accident and Health Insurance Agent Practice Exam QUESTIONS AND ANSWERS Verified Graded A+. Types of Insurance Companies Correct Answer: - Stock Companies (non-participating) - Mutual Companies (participating) - Fraternal Organization - Reciprocals and Assessment Insurers - Self-Insurers Domestic Insurance Co Correct Answer: - located in the state it's doing business in Foreign Insurance Co Correct Answer: - allowed to do business in a state other than their home state Alien Insurance ...

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...

Kentucky Life Insurance State Exam Practice Questions and Answers with complete solution The premiums paid by an employer for his employee's group life insurance are usually considered to be - Answer ️️ -Tax-deductible to the employer Which of these is NOT considered to be a cost connected with an individual's death? - Answer ️️ -Business expenses These are all accurate statements regarding universal life insurance EXCEPT - Answer ️️ - Policy loans are not permitted Which ...

12 - California Laws and Ethics Pertinent to Insurance Questions with Verified Solutions Anyone employed in California to assist an insurance agent in transacting insurance is called an insurance solicitor a life agent who has misappropriated fiduciary funds to his own use. What is Pete guilty of? Theft According to the California Insurance Code, what is "insurance"? A contract A person who asserts a right of recovery under an insurance policy is called claimant According to the Californi...

Accident and Health Insurance Agent Practice Exam A 100% Questions with Answers Graded A+ Group Insurance - CORRECT ANSWER-- the employer is the owner and receives the master contract - the employees are certificate holders which outlines the details of it - underwriting is much more liberal because its a large group and probably wont have adverse selection - if you want to get in at another time, employee has to show insurability What do you need to get Social Secutiry - COR...