Aflac health insurance - Study guides, Class notes & Summaries

*A situation that arises during the sale of insurance coverage to a customer in which the producer's self interest interferes with their obligation to act in the best interests of the customer is called:* A. conflict of interest B. dispute resolution C. teachable moment D. NONE of the ABOVE - Answer-*A. conflict of interest* *Which of the following reasons is NOT a valid reason for replacing a customer's insurance coverage?* A. rate increase B. declining health status C. need for increa...

Insured - Answer-A person or entity that is covered by the insured includes loss of life, health, property, or liability Owner - Answer-Responsible for paying the policy's premium that has rights under the contract Stockholders - Answer-Owned by stock company Policyholders - Answer-A mutual company put in management to carry out the company's mission Reciprocal Insurance Company - Answer-Group owned insurer whose main activity is risk sharing Lloyds of London - Answer-Consists of groups ...

Aflac's Understanding Insurance Fraud and Prohibited Practices guide includes _______________. - Answer-Policy administration and claims administration prohibited practices and Corrective actions and FAQs Fraud is an intentional act, omission or violation of trust designed to _____ others, resulting in the victim suffering a loss and/or the perpetrator achieving a gain. - Answer-deceive Prohibited Practices include acts that _______ the procedures, industry codes, branding or security as ...

What must insurance producers have in the event of being sued for malpractice? - Errors and omissions insurance coverage Incentive programs inclue - -promotions -contests -sweepstakes if your local radio station requests an interview with you to discuss aflac insurance products in your capacity as an aflac sales producer, are you authorized to speak with the station? - No, only individuals authorized by Aflac Worldwide Headquarters are permitted to discuss Aflac or its products wit media...

*A situation that arises during the sale of insurance coverage to a customer in which the producer's self interest interferes with their obligation to act in the best interests of the customer is called:* A. conflict of interest B. dispute resolution C. teachable moment D. NONE of the ABOVE - ANS *A. conflict of interest* *Which of the following reasons is NOT a valid reason for replacing a customer's insurance coverage?* A. rate increase B. declining health status C. n...

Examples of need-based selling are - ANS Asking your customer about their current insurance coverage. Using salary illustration to show the impact premium payments on take-home pay _________ is NOT a valid reason for replacing a policy. - ANS Declining health status Regarding suitability, you must ensure: - ANS The customer understands the impact of the premium on his or her paycheck or income. The customer believes the impact that the total Aflac premium ...

health insurance - eases the financial burden people may experience as a result of illness or injury - includes meducal expense insurance, and disability income insurance group plans - covers most individuals - usually employer-sponsored - employer pays part or most of cost the health insurance portability and accountability act of 1996 (HIPAA) - federal portability standards - if you change jobs you need not lose your health insurance group policy supplements coordination of benefits...

Washington Life/Health Insurance Exam | 100% Verified with complete solution policy owner - usually, but not always the person covered by the policy beneficiary - the person who is paid when a claim is submitted agent/producer - acts as a legal representative of the insurance company broker - representative of the Insured, not the insurance company risk - The chance or uncertainty of loss Pure risk - the chance of experiencing a loss (without the possibility of gain). Only down...

Aflac Study Test Questions and Answers (100% Pass) which dividend option allows a policy owner to use his or her dividends to buy life insurance on a single premium basis? - Answer️️ -paid up additions option The Alabama Life and Disability Insurance Guaranty has the power to - Answer️️ -Loan Money to an insolvent insurance company, guarantee the obligations of an insurance company, and provide money to satisfy the obligations of an insurance company. Paula has an insurance polic...

Aflac Exam Practice Questions and Answers (100% Pass) How would a contingent beneficiary receive the policy proceeds in an Accidental Death and Dismemberment (AD&D) policy? - Answer️️ -If the primary beneficiary dies before the insured S is employed by a large corporation that provides group health coverage for its employees and their dependents. If S dies, the company must allow his surviving spouse and dependents to continue their group health coverage for a maximum of how many mon...