Nonparticipating plan - Study guides, Class notes & Summaries

An insurance company selling more than one line of insurance - Multi-line insurer are in the business of selling insurance for a profit. - Commercial Insurers stock and mutual insurers. - Commercial insurance is divided into two main groups: are incorporated companies owned by their stockholders. - Stock Companies stockholders - Dividends from a stock company are paid to policyholders do not receive dividends. - Traditionally, stock insurers are called nonparticipating insurers b...

What is postmortem dividend? - A dividend earned, but not yet paid, in the year of the insured's death and paid with the death claim A life annuity with period certain pays the annuitant - Until death and then the beneficiary if the certain period has not been exceeded. A joint life policy can have many uses some of these could include? - 1. To cover two lives on the same policy 2. To pay estate taxes when the second spouse dies 3. To pay off a home mortgage should one of the working spo...

A person covered with an individual health plan is issued a policy is issued a certificate of medical costs does not contract directly with the insurance company is not subject to medical underwriting Correct Answer A person covered by an individual health plan is issued a policy. All Health Benefit Plans issued after January 1, 2014 must provide long-term care dental care adult vision care preventative health services Correct Answer preventative health services Preventa...

Joe and Mary are a married couple and both carry insurance from their employers. Joe was born on February 23, 1977 and Mary was born on April 4, 1974. Using the birthday rule, who carries the primary insurance for their children for billing? A. Joe, because he is the male head of the household. B. Mary, because her date of birth is the 4th and Joe's date of birth is the 23rd. C. Mary, because her birth year is before Joe's birth year. D. Joe, because his birth month and day are before Mary...

Florida 2-15 Questions and Answers When a stock life insurance company issues both participating and nonparticipating policies, it is referred to as a company doing business as a: [Ans: - Mixed plan A peril is the cause of a risk. A hazard is the source of danger. [Ans: - Peril, hazard Stock insurers are owned by policyholders, whereas mutual insurer are owned by stockholders [Ans: - False Both stock and mutual companies can write life health and property and casual the insurance [Ans:...

Joe and Mary are a married couple and both carry insurance from their employers. Joe was born on February 23, 1977 and Mary was born on April 4, 1974. Using the birthday rule, who carries the primary insurance for their children for billing? A. Joe, because he is the male head of the household. B. Mary, because her date of birth is the 4th and Joe's date of birth is the 23rd. C. Mary, because her birth year is before Joe's birth year. D. Joe, because his birth month and day are before...

1 OHIO STATE EXAM LIFE AND HEALTH INSURANCE EXAM REVIEW QUESTIONS AND ANSWERS, VERIFIED/ What is the name of the provision which states that a copy of the application must be attached to the policy when issued? - -Entire Contract Which of the following is INELIGIBLE to participate in a Section 125 Plan? - -An S-Corp Owner with a greater than 2% share The reinstatement provision in a health insurance policy is - -mandatory A nonparticipating policy will - -not pay dividends Erica is 35...

AAPC CPB Practice Exam (500 Questions, All Answered Correctly) Updated Joe and Mary are a married couple and both carry insurance from their employers. Joe was born on February 23, 1977 and Mary was born on April 4, 1974. Using the birthday rule, who carries the primary insurance for their children for billing? A. Joe, because he is the male head of the household. B. Mary, because her date of birth is the 4th and Joe's date of birth is the 23rd. C. Mary, because her birth year is bef...

NJ HEALTH INSURANCE EXAM (XCEL SOLUTIONS) | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+ Why are dividends from a mutual insurer not subject to taxation? Correct Answer: because dividends are considered to be a return of premium ABC insurance company transfers part of their risk to XYZ insurance company. This situation is called Correct Answer: reinsurance A nonparticipating company is sometimes called a(n) Correct Answer: stock insurer What is considered to be the ...

Xcel Life and Health Insurance What is the primary purpose of a rating service company such as A.M Best? - correct answer Determine financial strength of an insurance company What is considered to be the primary reason for buying life insurance? - correct answer Provide death benefits Which of the following is NOT considered advertising? - correct answer A rating from a rating service company, such as A.M. Best A plan in which an employer pays insurance benefits from a fund derived fro...