Naic life insurance Study guides, Class notes & Summaries

Life Insurance Exam (2023/2024) 100% Pass At what point must a life insurance applicant be informed of their rights to fall under the Fair Credit Reporting Act? Upon completion of the application Who elects the governing body of a mutual insurance company? Policyholders An insurance applicant MUST be informed of an investigation regarding his/her reputation and character according to the ____________. Fair Credit Reporting Act Which of the following represents multiple companies? Independent...

Federal Taxation of Business Health Insurance - -Self employed people can deduct the cost of their personal health insurance -Self employed may deduct all LTC premiums -Disability buy out premiums not tax deductible -BOE insurance premiums are deductible LTC riders - -To sell LTC riders must complete 8 hour inital training -And 4 hours in addition to 24 month CE -Every march 31 businesses must affirm all their employees have this shit done Appointing a producer - -Insurance company lets ...

Florida Insurance Exam Questions And Answers Latest Updated 2024/2025 | 100% SOLVED. Which type of insurance protects an agent and even pays claims if a lawsuit is brought against the agent as a result of failing to provide a service to a client? - Errors and Omissions Insurance Which of the following terms is known as the voluntary relinquishment of a given right or privilege? - Waiver This Supreme Court case placed the regulation of insurance within the authority of the federal governmen...

Absolute assignment - ANSWER Policy assignment under which the assignee (person to whom the policy is assigned) receives full control over the policy and also full rights to its benefits. Generally, when a policy is assigned to secure a debt, the owner retains all rights in the policy in excess of the debt, even though the assignment is absolute in form. (See assignment) Accelerated benefits rider - ANSWER A life insurance rider that allows for the early payment of some portion of the pol...

webce insurance exam1. Which of the following exempted insurance companies from federal antitrust legislation? - correct answer the McCarran-Ferguson Act 2. Which of the following has primary responsibility for regulating the insurance industry? a. the states - correct answer Which statement about the NAIC is correct? - correct answer The NAIC prepares model laws, regulations, and guidelines for adoption by the states. 4. The NAIC issued a model law on long-term care insurance. Which...

South Carolina life insurance exam study set Questions and Answers 2024 Verified An insurer will accept a premium from the insured and continue theicoverage in full force as though it was NOT late during which time period? Incontestable period Probation period Reinstatement period Grace period - CORRECT ANSWER-Grace period A person who is a nonsmoker, of average weight, and in excellent health would most likely be in which risk classification? Standard Substandard Acceptable...

Florida 2-15 exam Questions And Answers Florida 2-15 exam Questions And Answers In a 3 partner cross-purchase plan, how many policies need to be purchased in order to protect each partner against the loss of any other partner? 6 According to the NAIC Life Insurance Solicitation Model, when soliciting life insurance, a producer is required to provide a prospect with a ______ and a _______ specific to the product being marketed. general buyer's guide; policy summary The Incontestable ...

Life and Health Insurance Exam Kentucky State Exam Q&A 2024 C. The insurer may increase the premium rate after the policy is in effect provided it does so by classes of insureds - CORRECT ANSWER-All of the following statements about non-cancellable policies are true EXCEPT A. A noncancellible police is also called a noncancellible and guaranteed renewable policy B. The only right to cancel the noncancellable policy is for nonpayment of premiums C. The insurer may increase the premi...

WEBCE Insurance Exam Questions and Answers 100% Verified WEBCE Insurance Exam Questions and Answers 100% Verified WEBCE Insurance Exam Questions and Answers 100% Verified WEBCE Insurance Exam Questions and Answers 100% Verified 1. Which of the following exempted insurance companies from federal antitrust legislation? - ANSWER-the McCarran-Ferguson Act 2. Which of the following has primary responsibility for regulating the insurance industry? a. the states - ANSWER- ...

Lesson 11: NC Statutes & Regulations Pertinent to Life Insurance Questions and Answers Graded A+ Contract of Insurance Agreement by which the insurer is bound to pay money or its equivalent, or do some act of value to the insured upon and as an indemnity or reimbursement for the destruction, loss, or injury of something in which the party has an interest. Commissioner Commissioner of Insurance of NC or authorized designee -Heads state Department of Insurance -Responsible for fair ratem...