Characteristics of cobra - Study guides, Class notes & Summaries

LA Life, Health & Accident Insurance Series 103 Practice Exam Questions and Answers Already Passed Under which situation must insurable interest exist between the applicant and insured at the time of application? When a third-party applicant names themselves beneficiary. Which of the following is true about a decreasing term life policy? The face amount reaches zero at policy expiration. Which of the following occurs immediately after the application is submitted and the initial premium paid?...

A group conversion option may be used in all the following instances EXCEPT - a life-changing event, such as marriage, divorce, or childbirth. Which is the primary purpose of Health Reimbursement Accounts (HRAs)? - To assist covered employees with the payment of medical expenses on a high deductible plan funded through pre-tax contributions. All of the following are characteristics of variable whole life EXCEPT - there is no guaranteed minimum death benefit. When should a buy-sell agree...

How long after being entitled to disability benefits will an individual be eligible to receive Medicare benefits? - Answer- 2 years What is the return of premium rider? - Answer- an increasing amount of term insurance that always equals the total of premiums paid up to the current point In a home healthcare benefit, all of the following are eligible expenses EXCEPT - Answer- blood transfusions All of the following are classifications of risk EXCEPT - Answer- non-nicotine Which of the...

How long after being entitled to disability benefits will an individual be eligible to receive Medicare benefits? A. immediately B. 1 year C. 2 years D. At age 65 - ANSWER-2 years What is the return of premium rider? A. an increasing amount of term insurance that always equals the total of premiums paid up to the current point B. a provision that allows the insured to cancel the policy in the first two years and have premiums refunded C. an increasing amount of term insurance that e...

does Policies do? - They are "what we do" What are mandatory benefits? - By law they are offered from the employer. ex. Worker's Compensation, COBRA, Social Security Vietnam Era Veterans Readjustment Assistance Act of 1978 - Prohibits discrimination against veterans that are returning back from deployment, including Vietnam era, disabled, and active duty. What are Procedures? - They are "how we do it" Explain why employee handbooks protect both the employer and employee? - Doc...

PSI: LIFE, ACCIDENT, AND HEALTH PRACTICE EXAM ALREADY PASSED Under the misstatement of age or gender provision, what happens if it is determined at death that the insured's age or gender was misstated on a life insurance policy application? Benefits are adjusted to an amount that the premium would have purchased at the correct age or gender. Which of the following must be given to the insurer within 20 days after occurrence or commencement of any loss covered by the policy, or as thereafter a...

What Specific new procedures does the USA Patriot Act require of insurance companies - Establish an anti money laundering program All of the following are common exclusions from loss found in disability income policies EXCEPT for that incurred while - Committing a misdemeanor All of the following are characteristics of COBRA EXCEPT - Change in medical privacy procedures Difference between copayment and coinsurance - Copayment is set dollar amount, Coinsurance is set percentage. Consumers rep...

Health insurance coverage under COBRA, HIPAA guarantees that the person will - Have Acces to a guaranteed-issue individual health policy, regardless of health All the following statements about ordinary (or straight) whole life insurance are correct - The cash value remains level throughout the life of the policy Which activity in NOT an error or omission that makes an agent or producer legally to both the insurance and the insure - Placing insurance with an approved surplus line insurer All ...

TX GENERAL LINES LIFE, ACCIDENT AND HEALTH EXAM PREP QUESTIONS WITH CORRECT ANSWERS Health insurance coverage under COBRA, HIPAA guarantees that the person will - Correct Answer Have Acces to a guaranteed-issue individual health policy, regardless of health All the following statements about ordinary (or straight) whole life insurance are correct - Correct Answer The cash value remains level throughout the life of the policy Which activity in NOT an error or omission that makes an agent o...

Medicare benefits eligibility after entitled to disability benefits - 2 years Return of premium rider - An increasing amount of term insurance that always equals the total of premiums paid up to the current point Home healthcare benefit expenses - EXCEPT blood transfusions Classifications of risk - EXCEPT non-nicotine Exemption from incontestability provision - fraudulent misstatements Group conversion option usage - EXCEPT a life-changing event, such as marriage, divorce, or childbirth No...