Maine insurance - Study guides, Class notes & Summaries

maine life insurance LAW Exam Questions and answers with 100% Complete Solutions | verified &updated 2024

Maine Life Insurance Exam Questions With Complete Solutions. Contributory Health Insurance If the employees share a portion of the premium. Often require participation by 75% of eligible members. Noncontributory Health Insurance If the employer pays the entire premium. Most require 100% participation by eligible members. (Funding of Group Insurance) Shared funding Allows employer to self-fund health care expenses, select a deductible and pay covered expenses for any individual incurring ...

(Funding of group insurance) Min. premium arrangement - Employer self-insure the normal and expected claims up to a given amount and the insurer funds only the excess amounts (Funding of group insurance) retrospective premium arrangement - Insurer agrees to collect a provisional premium but may collect additional premium/make a premium refund at the end of the year based on actual incurred losses. (Funding of group insurance) Self-funding arrangement - Large employers may elect to fully sel...

Maine Insurance - Questions Frequently Missed (Answered) Correctly 2024!! How much time does a person who was a party to a hearing have to appeal the order by the Superintendent? 30 days As a prerequisite to maintaining a license, licensees must complete a continuing education requirement every: 2 years If Jerry's insurance producer's license expires, how much time does he have to be reinstated without retaking the Maine insurance licensing examination? 2 years What is the maximum lif...

Maine Life Insurance Exam Study Guide with complete solution

Contributory Health Insurance - correct answer If the employees share a portion of the premium. Often require participation by 75% of eligible members. Noncontributory Health Insurance - correct answer If the employer pays the entire premium. Most require 100% participation by eligible members. (Funding of Group Insurance) Shared funding - correct answer Allows employer to self-fund health care expenses, select a deductible and pay covered expenses for any individual incurring claims up to...

What regulates the insurance business in Maine? Answer - Bureau of Insurance Who selects the Superintendent of Insurance? Answer - The Governor Duties of the Superintendent of Insurance (Maine)? Answer - -Investigating the affairs of anyone engaged in the insurance business in Maine -Issuing certificates of authority to transact insurance business in Maine -Enforcing Maine's insurance laws and regulations Writing Maine's insurance laws is not a duty of the Superintendent? True or F...

Maine Life Insurance LAW solicitation and cost disclosure -buyers guide -policy summary -policy illustrations buyers guide contains information that helps applicant decide how much life insurance to buy determine what type of policy is needed and compares the costs of similar policies policy summary written statement describing the elements of a life insurance policy has name, address of producer & insured has name of policy and each rider tells annual premium, cash surrender v...

Maine Insurance – Exam Frequently Missed Questions and answers with 100% Complete solutions | verified &updated 2024 How much time does a person who was a party to a hearing have to appeal the order by the Superintendent? - 30 days As a prerequisite to maintaining a license, licensees must complete a continuing education requirement every: - 2 years If Jerry's insurance producer's license expires, how much time does he have to be reinstated without retaking the Maine insurance licensing e...

Maine Life Insurance LAW solicitation and cost disclosure -buyers guide -policy summary -policy illustrations buyers guide contains information that helps applicant decide how much life insurance to buy determine what type of policy is needed and compares the costs of similar policies policy summary written statement describing the elements of a life insurance policy has name, address of producer & insured has name of policy and each rider tells annual premium, cash surrender v...