Missouri life accident Study guides, Class notes & Summaries

Missouri Life and Health Insurance State Exam Questions & Answers(rated A)The accelerated death benefit provision in a life insurance policy is also known as a(n): -ANSWER Living benefit. Under an individual health insurance policy, the time limit of certain defenses provision states that nonfraudulent misstatements first become incontestable two years: -ANSWER from the date that the policy was issued. ______ can be defined as "making an unfair comparison of two insurance policies". -ANS...

Missouri Life and Health Insurance State Exam Simulator- 200+ questions With accurate Solutions! J's Major Medical policy has a $2000 deductible and an 80/20 coinsurance clause. If J is hospitalized and receives a bill for $10,000, j would pay -ANSWER 3,600 (2k + 20% of thr remaining bill) Life insurance that covers an insured's whole life with level premiums paid over a limited time is called: -ANSWER Limited Pay Life What is the purpose of the Missouri Life and Health Insurance Guar...

J's Major Medical policy has a $2000 deductible and an 80/20 coinsurance clause. If J is hospitalized and receives a bill for $10,000, j would pay -ANSWER 3,600 (2k + 20% of thr remaining bill) Life insurance that covers an insured's whole life with level premiums paid over a limited time is called: -ANSWER Limited Pay Life What is the purpose of the Missouri Life and Health Insurance Guaranty Association? -ANSWER Ensures that claims filed against insolvent insurance companies will be pa...

Missouri Life and Health Insurance Final Whose interest is being protected by the enactment of " The Replacement of Life Insurance and Annuities" regulation? -ANSWER policyowner Q applied for life insurance and submitted the initial premium on January 1. The policy was issued February 1, but it was not delivered by the agent until February 7. Q is dissatisfied and returns the policy February 13. How will the insurer handle this situation? -ANSWER policy was returned with the "free look"...

In a Life insurance contract, an insurance company's promise to pay stated benefits is called the: a) insuring clause b) consideration clause c) entire contract d) owner's rights - ANSWERinsuring clause under which circumstance MUST a health insurer have an expedited grievance review procedure? - ANSWERwhen the enrollee's life or health is jeapordized The Consideration clause in a life insurance contract contains what pertinent information? - ANSWERamount of premium payments and wh...

missouri life accident and health exams accurate(Rated A+) any transaction which new life insurance or a new annuity is purchased - ANSWERReplacement is the company that issuse the new policy - ANSWERReplacing insurer is the company whose policy is being replace - ANSWERExisting insurer that is signed by both the applicant and the producer a copy must be left with applicant - ANSWERnotice Regarding replacement by existing insurer or its producers or by broker to dissuade a current p...

Missouri Life Accident and Health Insurance Producer (OP12-MO54) License Exam 100% Verified! Refers to the location, or jurisdiction, where an insurer is formed or incorporated. -ANSWER Domicile Which of the following is an insurance company that is organized under the laws of another state within the United States? -ANSWER Foreign The USA Patriot Act was passed as a result of -ANSWER 9/11 Attack Insurable interest must exist at the time of -ANSWER Application The Insured's co...

Missouri laws and rules Questions and An The Director has the power and authority - ANSWER1.) Regulate the internal affairs of the Department of Insurance 2.) Prescribe forms and procedures to be followed in proceedings before the Department 3.) Aid in the interpretation of any state insurance law 4.) Withdraw or amend any rule or regulation. The Director or a designated examiner may conduct - ANSWERan examination of any domestic insurance company at the discretion of the Director and mus...

Missouri Life Insurance Exam Questions and Answers 100% Solved 401(k) Plan ️️A qualified retirement plan in which the employee can set aside a portion of their income with pre-tax dollars. Absolute Assignment v. Collateral Assignment ️️Absolute: A permanent and irrevocable transfer of rights and/or benefits by the policyowner. Collateral: A temporary and/or revocable transfer of benefits by the policyowner Accelerated Death Benefit ️️Policy provision that allows full or par...

In a Life insurance contract, an insurance company's promise to pay stated benefits is called the: a) insuring clause b) consideration clause c) entire contract d) owner's rights - Answer insuring clause under which circumstance MUST a health insurer have an expedited grievance review procedure? - Answer when the enrollee's life or health is jeapordized The Consideration clause in a life insurance contract contains what pertinent information? - Answer amount of premium payments and w...