Kentucky life a - Study guides, Class notes & Summaries

Kentucky Life Insurance Exam (Latest 2024/ 2025 Update) Questions and Verified Answers| 100 % Correct| Grade A Q: Traditional individual retirement annuity (IRA) distributions must start by Answer: April 1st of the year following the year the participant attains age 70 1/2 Q: How are Roth IRA distributions normally taxed? Answer: Distributions are received tax-free Q: How can an insurance company minimize exposure to loss? Answer: Reinsurance Q: Al...

XCEL Kentucky Life and Health Final Exam 100% Solved S filed a written Proof of Loss for a Disability Income claim on September 1. The insurance company did not respond to the claim. S can take legal action against the insurer beginning: November 1 What is the excise tax rate the IRS imposes on individuals aged 70 1/2 or older who do not take the required minimum distributions from their qualified retirement plan? 50% The provision in a Group Health policy that allows the insurer to postpone ...

Kentucky Life Insurance Exam Prep| Questions and Verified Answers| 100 % Correct| Grade A (New 2024/ 2025 Update) QUESTION Nonforfeiture Options Three options available by law to policyowners that enable them to recover a policy's cash-value upon surrender of that policy. (1) Cash (2) Reduced Paid-Up Insurance (3) Extended Term Insurance QUESTION Immediate Annuities Answer: - Can only be funded using the Single Premium payment method - First income payment is ma...

Kentucky Life and Health Insurance Exam Prep| Questions and Verified Answers| 100 % Correct| Grade A (Latest 2024/ 2025 Update) Q: what is loss exposure state of being subject to a passible loss Q: what does it mean to be defineable Answer: definite as to time, cause and location Q: what does it mean to be measurable Answer: companies will state how much they will pay for a covered loss Q: is loss due to war covered Answer: no Q: can accidental b...

Kentucky Life and Health Insurance Exam Prep| Questions and Verified Answers| 100 % Correct| Grade A (New 2024/ 2025 Update) QUESTION how many days do you have to send the claim forms for filing proof of loss Answer: 15 days QUESTION how long does the insurer have to pay claims Answer: 30 days QUESTION what happens if insurer does not pay claim within 30 days Answer: must pay 12% interest and can collect attorney fees incurred to collect claim ...

KENTUCKY LIFE AND HEALTH INSURANCE ACTUAL /NEWEST 2024 WITH WELL SORTED QUESTIONS AND ANSWERS /GRADED A+/BEST FOR THAT GOOD GRADE

Final Exam Kentucky Life and Health Insurance Study Guide Exam New 2024 An insurance agent who replaces an existing policy by making false written or oral statements is committing the act of: - CORRECT ANSWER-twisting Which of the following risks are insurable? - CORRECT ANSWER-pure risk The federal income tax treatment of employer-provided group health insurance can be accurately described as: - CORRECT ANSWER-Employee's coverage paid for by the employer is tax-deductible to the emp...

Comprehensive Exam-Kentucky Life and Health Insurance Final Updated Exam 2024 Q&A All of the following are producer responsibilities to the applicant, except: - CORRECT ANSWER-Offering and selling only the lowest premium policy ___________ manufacture and sell insurance coverage in the form of policies or contracts of insurance. - CORRECT ANSWER-Insurers When both parties must perform certain duties and follow certain rules of conduct to make a contract enforceable refers to a(n) ___...

XCEL Kentucky Life and Health Final UPDATED Actual Exam Questions and CORRECT Answers S filed a written Proof of Loss for a Disability Income claim on September 1. The insurance company did not respond to the claim. S can take legal action against the insurer beginning: - CORRECT ANSWER- November 1 What is the excise tax rate the IRS imposes on individuals aged 70 1/2 or older who do not take the required minimum distributions from their qualified retirement plan? - CORRECT ANSWER- 5...

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