The agent producer is - Study guides, Class notes & Summaries

In a long-term care policy issued in Virginia, any provision limiting preexisting conditions may not exceed _____ months 6 months What is a universal life insurance policy? A flexible premium deposit fund and a monthly renewable term insurance policy How is an insured's accident and health claim handled by an insurer if it occurs during the policy's grace period? The unpaid premium may be subtracted from the reimbursement What must an agent do when replacing a long-term care policy with...

WA Life and Disability Producer Combo Questions with Verified Solutions If a company provides group disability insurance to its employees, which of the following may be tax deductible? The premiums paid by the company as a business expense Which provides benefits for expenses incurred as a result of in-hospital medical treatment and surgery as well as certain outpatient expenses such as doctor's visits, laboratory tests, and diagnostic services? Hospitalization insurance Compared t...

Accident - Answer-A sudden event, unforeseen and unintended Claim - Answer-A demand for payment under the insurance policy Absolute assignment - Answer-A transfer by the policy holder of all control and rights to a third party Accident and Sickness - Answer-Insurance against bodily injury, disability or death by accident, or against disability or expense resulting from sickness, and the insurance relating thereto Accidental Means - Answer-The unexpected cause of an accidental bodily injury....

Which of these is NOT considered to be a violation of the Unfair Competition Law in Indiana? monopolize or restrain trade making unsubstantiated criticisms about an insurance company pay insurance commissions to an unlicensed individual paying a finder's fee to an individual who provides a sales lead - correct answer paying a finder's fee to an individual who provides a sales lead A viatical settlement agent, according to the Indiana Department of Insurance, is an individual who f...

SC Property, Casualty, Surety, Marine Exam Questions and Answers 100% Answered!!Accumulated Depreciation - ANSWERSThe total decrease in an item's value over a period of time. Formula:(Annual Depreciation x Number ofyears used) 1-J Acreage Reporting Date - ANSWERSThe deadline for providing the insurer with an acreage report, which is used to determine the amount of coverage needed and the premium charged for a particular crop. 3-E Actual Cash Value (ACV) - ANSWERSA valuation method used by...

UNITED HEALTHCARE (UHC) – ETHICS AND COMPLIANCE LATEST 2023-2024 EXAM| ACTUAL QUESTIONS AND VERIFIED ANSWERS Version 2 |A+ GRADE Q: John has Power of Attorney to act on behalf of his mother. What does that mean when it comes to his mother enrolling in a Medicare Advantage Plan? Answer: John may sign the Enrollment Application and must be able to provide documentation upon request by the Plan that indicates his authority under state law to enroll his mother. Q: In which of the...

The purpose of legal procedure is to ensure that each party receives A. ongoing advice. B. consistent treatment. C. a reasonable verdict. D. an indictment. - Answer- b Wal-mart, Chevron Texaco, and Ford Motor Company sell stock in their companies. They are examples of which of the following types of business ownership: A. Franchisee B. Corporation C. Partnership D. Sole proprietorship - Answer- b Channels of distribution benefit businesses by A. lowering the prices of all indu...

Process 2103 (d-i) Correct Answer: 1. The Superintendent may issue a license to any person, firm or corporation who has complied with the requirements of the Insurance Code, authorizing the licensee to act as agent of any authorized insurer. Every individual applicant for a license under this section and every proposed sub-licensee must be 18 years of age or older at the time of issuance of such license. The person must submit to and pass a written examination required by the Superintendent. ...

Primerica Pre-licensing Course Solved Exam |Question and Answers| 100% Correct agent *Ans* legal representative of an insurance company; the classification of producer usually includes agents and brokers; agents are the agents of the insurer insured *Ans* the person covered by the insurance policy; this person may or may not be the policyowner broker *Ans* an insurance agent not appointed by an insurer and is deemed to represent the client insurance policy *Ans* a contract between ...

Law 3220 Exam 4 Clemson Latest Update Graded A Agency An agency is created when a person or company (an agent) agrees to act for or in place of another person or company (the principal) Parties in an Agency -The principal creates authority in an agent -The agent receives authority and carries out the principal's instructions -Third parties make contract or are involved in torts with the agents Disclosed Principal Identity of principal is known by the third party at time of making of contract ...