Nevada life - Study guides, Class notes & Summaries

NEVADA LIFE AND HEALTH LICENSE EXAM 2024/2025 WITH 100% ACCURATE SOLUTIONS What are the four required elements of an insurance contract? - Precise Answer Agreement, consideration, competent parties, and legal purpose. What two parts make up a life insurance application? - Precise Answer General Information and the Medical Information. An agent's report can go in a life insurance application but is not included in the life insurance policy. When must insurable interest exist in life i...

NEVADA LIFE INSURANCE EXAM 2024/2025 WITH 100% ACCURATE SOLUTIONS 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 - Precise Answer B Which of the following documents must be provided to the poli...

Nevada Life & Health Insurance Questions and Answers Rated A+ term insurance temporary protection because it only provides coverage for a specific period of time face amount death benefit 3 basic types of term coverage level, increasing, decreasing - based on how the face amount changes during the policy term What is the premium in term insurance? regardless of type of term insurance purchased, premium is level throughout the term of policy level term insurance death benefit...

Nevada Life Insurance Questions and Answers Rated A+ 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 B Which of the following documents must be provided to the policyowner or applicant during ...

Nevada Life and Health Insurance Final Exam Questions and Answers Rated A+ What is an individual engaged in the solicitation, negotiation, or sell of funeral expense insurance who is required to be licensed by the state? Prepaid funeral contract agent Which of the following does the Nevada Insurance Commissioner NOT do? Make statutes concerning insurance law Nick has a policy that the insurer can cancel when he turns 65. Which type of policy is it? Conditionally renewable Which o...

NEVADA LIFE AND HEALTH LICENSE EXAM 2024 WITH 100% CORRECT ANSWERS What are the four required elements of an insurance contract? - correct answer Agreement, consideration, competent parties, and legal purpose. What two parts make up a life insurance application? - correct answer General Information and the Medical Information. An agent's report can go in a life insurance application but is not included in the life insurance policy. When must insurable interest exist in life insuranc...

Nevada Life and Health License Exam Prep Questions 2024 With 100% Correct Answers!!

Nevada Life and Health License Exam Prep Questions Latest Update Graded A+ What are the four required elements of an insurance contract? Agreement, consideration, competent parties, and legal purpose. What two parts make up a life insurance application? General Information and the Medical Information. An agent's report can go in a life insurance application but is not included in the life insurance policy. When must insurable interest exist in life insurance? At the time of appl...

COBRA (because she can convert, and if she has a long term illness it it will be hard for her to get approved for individual insurance) Answer - Kevin and Nancy are married; Kevin is the primary breadwinner and has a health insurance policy that covers both him and his wife. Nancy has an illness that requires significant medical attention. Kevin and Nancy decide to legally separate, which means that Nancy will no longer be eligible for health insurance coverage under Kevin. Which of the followin...

Nevada Life & Health Insurance QUESTIONS AND REVISED CORRECT ANSWERS | UPDATED !! Term insurance - ANSWER : temporary protection because it only provides coverage for a specific period of time Face amount - ANSWER : death benefit 3 basic types of term coverage - ANSWER : level, increasing, decreasing - based on how the face amount changes during the policy term What is the premium in term insurance? - ANSWER : regardless of type of term insurance purchased, premium is level t...