Accelerated benefit rider - Study guides, Class notes & Summaries

Life, accident and health insurance state exam- OH Already Passed A person who is a nonsmoker, of average weight and in excellent health would most likely be in which risk classification? preferred Preferred risk policies with reduced premiums are issued by insurance companies bc the insured has better than average mortality The waiver of premium does NOT include which provision? Al future premiums are waived if the insured recovers from the disability An advertisement for an insurance produ...

How long after being entitled to disability benefits will an individual be eligible to receive Medicare benefits? A. immediately B. 1 year C. 2 years D. At age 65 - ANSWER-2 years What is the return of premium rider? A. an increasing amount of term insurance that always equals the total of premiums paid up to the current point B. a provision that allows the insured to cancel the policy in the first two years and have premiums refunded C. an increasing amount of term insurance that e...

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

Under a traditional IRA, interest is taxed: Only if withdrawn prior to age 59 1/2 According to the capital gains rate Upon distribution During the accumulation phase - ANSWER-Upon distribution Which of these statements concerning Traditional IRAs is CORRECT? Earnings are not taxable when withdrawn Earnings are taxable when withdrawn Contribution are never tax deductible Contributions are always made by the employer - ANSWER-Earnings are taxable when withdrawn Wh...

PSI life, accident, and health Exam (Questions and Answers A+ graded 100% verified)How long after being entitled to disability benefits will an individual be eligible to receive Medicare benefits? A. immediately B. 1 year C. 2 years D. At age 65 - ANSWER-2 years What is the return of premium rider? A. an increasing amount of term insurance that always equals the total of premiums paid up to the current point B. a provision that allows the insured to cancel the policy in the first two ye...

Virginia Health Insurance Test Latest Update Graded A+ Absolute An assignment that occurs when the policy owner assigns all rights including cash values to another person or entity. Synonymous with voluntary assignment. Absolute Value A medical expense plan that pays a fixed maximum dollar amount for a procedure. Accelerated Benefit Rider Life insurance rider which allows the insured to receive a portion of the death benefit prior to death if the insured has a terminal illness. ...

Pennsylvania Life Insurance – Provisions Questions and Answers Already Passed Which of these is NOT a typical life insurance nonforfeiture option? Reduced paid-up option Extended term option Cash surrender option Life income settlement option Life Income Settlement Option A life insurance policy's waiver of premium rider has the ability to waive the premium payments in the event the insured becomes financially insolvent waive the premium payments in the event the insured becom...

PRIMERICA LIFE INSURANCE EXAM. All Most Examined Questions Bank with answers. 100% verified. Rated A. An insured purchased an insurance policy 5 years ago. Last year, she received a dividend check from the insurance company that was not taxable. This year, she did not receive a check from the insurer. From what type of insurer did the insured purchase the policy? a. mutual b. reciprocal c. nonprofit service organization d. stock - A. mutual funds not paid out after paying claims ...

AZ Insurance Exam 13-33 (2024/ 2025 Update) Questions and Verified Answers| 100% Correct| Grade A Q: Which of the following is NOT a valid contract age? Answer: An annuity exchanged for a life insurance policy. Q: Tim is covered by an accident and health insurance policy that may not be changed in any way by the insurer up to a stetted age, as long as the premiums are paid. What type of policy is this? Answer: Noncancelable Q: An insurer will typically assess a bac...

concurrent review correct answers Which of the following is a Managed Care Provision used by insurers to monitor hospital stays AIDS correct answers All of the following are typical exclusions for coverage under an accelerated death benefit rider, except: The amount of the accelerated payment, the remaining death benefit and cash values correct answers In the event that an insured receives a periodic benefit as the result of exercising the Accelerated Death Benefit Rider, what information ...