Plains - Study guides, Class notes & Summaries

Blanket Insurance - A single property insurance policy that provides coverage for multiple classes of property at one location, or provides coverage for one or more classes of property at multiple locations. Adhesion - A contact offered on a "take-it-or-leave-it" basis by an insurer, in which the insured's only option is to accept or reject the contract. Any ambiguities in the contract will be settled in favor of the insured. Absolute Liability - A type of liability that occurs due to e...

Binding Receipts - coverage is guaranteed until the insurer formally rejects the application -even if the proposed insured is ultimately found to be uninsurable -coverage is guaranteed until rejection of application Blanket Life Insurance - COvers groups of people exposed to the same hazard, such as passengers on an airplane. No one is named on the policy and there is not a certificate of coverage given out. Individuals are only covered for the common hazard. Accelerated benefits - provide...

Which of the following death benefits is paid out to the beneficiary income tax free? - Life insurance when the insured dies while the policy is in force Guaranteed Renewable means: - Renewable with adjustable premiums, by classification only A whole life policy: - Requires the insured to pay premiums for life and endows at age 100 A policy that pays surgical expense benefits does not schedule the approved benefit payable for every type of surgery. Instead, surgeries not listed are paid on ...

NC - Health Insurance - Practice Exam Questions and Correct Answers Explained 2024/2025 All of the following are true regarding Key Employee Disability Income insurance EXCEPT A) Premiums are not tax deductible for the employer. B) Benefits are taxable to the employer. C) The employer owns the policy. D) Benefits are paid to the employer to retrain a new person. - Correct Answer B) Benefits are taxable to the employer. Key person disability income premiums are not deductible to the bu...

FULL TEST BANK For Professional Nursing III Final Exam |PN3 Final Exam| Questions All with Correct Answers |Verified Answers| PRINTED PDF | ORIGINAL DIRECTLY FROM THE PUBLISHER | 100% VERIFIED ANSWERS | DOWNLOAD IMMEDIATELY AFTER THE ORDER Table of Contents PN3 FINAL EXAM (Questions And Answers) Multiple choice 2 PN3 FINAL EXAM (Q&A) 59 PN3 Final Exam (Questions and Answers 68 Pn3 Final exam (Questions and Answers) Multiple Choice 75 PN3 final Review (Questions And Answers) Multiple Ch...

Material Misrepresentation - - a false statement that changes the outcome of issuing a policy - generally with the health statement Surplus Lines - any type of insurance for which there is no available market within the state, and the coverage must be placed with a non admitted insurer Mutual Insurer - An insurer that is owned by its policyholders and formed as a corporation for the purpose of providing insurance to them.- Non Taxable dividends & Participating Polcies Insurance - Transfer ...

An employer pays the accident and health insurance premiums for its employees. The premiums paid by the employer are Deductible to the business. Taxable to the employee. Tax-deferred to the business. Reimbursed as a tax credit. - Deductible to the business. Medical expense insurance typically EXCLUDES coverage for: Prosthetic devices such as artificial limbs Cosmetic surgery Injuries resulting from auto accidents Treatment for terminal illnesses - Cosmetic surgery A group health insur...

LIFE & HEALTH INSURANCE AGENT PRACTICE EXAM Kit- 350 Questions with Fully Explained Answers ALL WHAT YOU NEED TO KNOW TABLE OF CONTENTS Introduction / Review Practice Exam Questions Life Insurance Section 1 – General Life Insurance Basics, Insurable Interest, Parties and Regulations Section 2 – Types of Life Insurance Policies and Individual versus Group Life Insurance Section 3 – Life Insurance Application and Underwriting Section 4 – Selling Life Insurance, Determining Cover...

Why were Exchanges implemented by the Affordable Care Act (ACA)? To create a one-stop market for standardized health insurance plans. Provide an additional stream of income for the Federal government. To enforce every U.S citizen to purchase health insurance. Assist in the conversion of individual policies to government mandated plans. - To create a onestop market for standardized health insurance plans. A licensee whose name or address changes must notify the Commissioner within 15 days b...

PAP Part C: Uninsured Motorist Coverage - Uninsured motorist (UM) coverage provides the insured with money for bodily injuries that the insured would be legally entitled to recover from the owner or operator of a vehicle that does not carry the required liability insurance coverage. A vehicle that does not carry the required insurance is defined in this section of the PAP as an uninsured vehicle Accounts receivable coverage form - One of the most important and popular of the inland marine c...