If the policyowner - Study guides, Class notes & Summaries

Wisconsin Life Insurance Exam Questions With 100% Correct Answers A 60-year-old participant in a 401(k) plan takes a distribution and rolls it over to an IRA within 60 days. Which of the following is true? a) The amount of the distribution is reduced by the amount of a 20% withholding tax b) No taxes are due since the plan participant is over age 59 1/2 c) There is a 10% early withdrawal penalty d) The amount distributed is subject to ordinary income tax - a A claimant, whi is to...

Exam Simulator FL-LH - FL Health and Life and Annuity 100% Pass A non-contributory plan requires _________ participation of all eligible employees 100% A characteristic of preferred provider organizations (PPOS) would be: Discounted fees for the patient Which of the following areas of state regulation is NOT protected by the saving clause in ERISA? Commerce Additional coverage can be added to a whole Life policy by adding a(n): decreasing term rider What benefit does the payor clause on a Ju...

Life Insurance Exam-IllinoisPooling of Risks - correct answer A large group of people contribute money to a fund out of which their losses can be paid Policyowner - correct answer is the person or org that applies for the policy and pays the premium Actuarial Tables - correct answer Are statistical tables that are used when calculating premium rates and mortality loss reserves Life Insurance Policies transfer: - correct answer financial risks of premature death on a defined amount Lo...

NC Life Insurance Exam Prep Questions and Answers Already Passed An agent who sells an individual life insurance policy in NC MUST deliver to the policyowner A policy summary and buyer's guide All of the following actions are considered rebating EXCEPT Sharing commissions with other licensed and appointed agents What benefit does the Payor Clause on a Juvenile Life Policy provide? Premiums are waived if payor becomes disabled An agent who signs a blank contract application or policy of insu...

A medical expense policy that establishes the amount of benefit paid based upon the prevailing charges which fall within the standard range of fees normally charged for a specific procedure by a doctor of similar training and experience in that geographic area is known as Usual, customary and reasonable What provision would prevent an insurance company from paying a reimbursement claim to someone other than the policyowner? Payment of Claims All of the following are true about gr...

NY Series 17-52 Questions and Answers 100% Pass How many eligible employees must be included in a contributory health insurance plan? 50% A man works for Company A and his wife works for Company B. The spouses are covered by health plans through their respective companies that also cover the other spouse. If the husband files a claim, The insurance through his company is primary. What is the period of coverage for events such as death or divorce under COBRA? 36 months Twenty-five days after ...

XCel 2-15 florida life & health state exam simulator/Answered/A+ Rated XCel 2-15 florida life & health state exam simulator/Answered/A+ Rated what is considered to be a characteristic of an immediate annuity benefit payments start within one payment period of purchase 3 MULTIPLE CHOICE OPTIONS which of these characteristics is consistent with a straight life policy premiums are payable for as long as there is insurance coverage in force 3 MULTIPLE CHOICE OPTIONS an insureds inability t...

WI Life Insurance Exam Questions and Answers Already Passed What is the purpose of the Wisconsin State Life Insurance Fund? a) to offer low-cost life insurance to state residents b) To protect insured against insolvent insurers c) To advertise different types of life insurance policies available in the state d) To provide life insurance through licensed intermediaries a An employee is insured under her employer's group life plan. If she terminates her group coverage, which of th...

When life insurance proceeds are used to pay inheritance taxes and federal estate taxes, it is known as - Answer- Estate conservation In group insurance, the primary purpose of the Coordination of Benefits provision is to - Answer- Prevent overinsurance Which of the following statements is NOT true regarding health insurance policy provisions? - Answer- All additional provisions written by insurers are cataloged by their respective states. The policyowner has an option to pledge the lif...

Life, Accident and Health Final Exam Questions With 100% Correct Answers Which of the following provides benefits for the treatment of gum disease? A. Endodontics B. Orthodontics C. Periodontics D. Prosthodontics - answerC. Periodontics The Insured and primary beneficiary die in a common accident. The insured dies at the scene and the beneficiary dies thirty six days later. To whom is the $250k death benefit paid? A. The State Department of Revenue B. The Contingent Beneficiary C. The...