Incontestable clause - Study guides, Class notes & Summaries

CA LIFE INSURANCE EXAM QUESTIONS AND ANSWERS LATEST J has a life policy with the Guaranteed Insurability rider. J has just celebrated their 42nd birthday and realizes that she wants to use her rider and buy more death benefit. Which of the following will apply to J's request? A: The insurer will allow J to add more insurance without proving insurability. B: The insurer will allow J to add more insurance pending a paramedical exam. C: The insurer will deny J's request to add more insura...

Xcel solutions final exam Maryland Life and health questions and answers 100% pass What is normally the consequence for NOT obtaining preadmission certification prior to receiving inpatient medical care? A reduction in benefits A group-owned insurance company that is formed to assume and spread the liability risks of its members is known as a Risk retention group During the application process, a statement made by an applicant that becomes part of the contract is considered to be a(n) Warrant...

All of the following are correct about the required provisions of a health insurance policy EXCEPT A. The entire contract clause means the signed application, policy, endorsements, and attachments constitute the entire contract. B. A reinstated policy provides immediate coverage for an illness. C. Policies become incontestable after being in force for 3 years. D. A grace period of 31 days is found in an annual pay policy. - correct answer B. A reinstated policy provides immediate co...

Texas Life And Health Insurance Exam Questions With Correct Answers | Latest 2023/2024 (Graded A+). Which of the following actions is NOT possible with a Universal Life policy? - Correct Answer-Premiums may be applied as a credit against income tax Which of the following will a Long Term Care plan typically provide benefits for? - Correct Answer-home health care Which health policy clause stipulates that an insurance company must attach a copy of the application to the policy to ensure that...

XCEL Ohio Proctor Questions and Answers Graded A+ Under a Modified Endowment Contract, what are the likely tax consequences? •Pre-death distributions will become taxable To receive proceeds from a death benefit, a minor •must have an appointed guardian Under a Modified Endowment Contract, what are the likely tax consequences? Pre-death distributions will become taxable To receive proceeds from a death benefit, a minor must have an appointed guardian A provision that allows a policyowner ...

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? - Answer- 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. - Answer- general buyer's guide; policy summary The Incontestable Clause states that the insurer cannot contest the validity of a li...

Kentucky Life and Health Insurance Exam (Latest 2024/ 2025 Update) Questions and Verified Answers| 100 % Correct| Grade A Q: Which type of life policy contains a monthly mortality charge as well as self-directed investment choices? Joint Life Adjustable Life Variable Universal Life Universal Life Answer: Variable Universal Life Q: Two agencies are competing for a new client. Agency A mentions to the prospective client that all of the companies with which it does busin...

NJ LIFE FINAL EXAM 2024 WITH 100% CORRECT ANSWERS Which of these is a method of determining the level of funds required for ongoing support in the event of the breadwinner's death? Financial loss value Human life value Assessment value Replacement value - correct answer Human life value The Guaranty Association Act provides that when a Court Order of Liquidation exists, the insurer - correct answer Is insolvent An individual most likely will have an insurable interest in insuri...

NJ LIFE FINAL EXAM 2024/2025 WITH 100% ACCURATE SOLUTIONS Which of these is a method of determining the level of funds required for ongoing support in the event of the breadwinner's death? Financial loss value Human life value Assessment value Replacement value - Precise Answer Human life value The Guaranty Association Act provides that when a Court Order of Liquidation exists, the insurer - Precise Answer Is insolvent An individual most likely will have an insurable interest i...

Louisiana Life and Health Insurance Exam Questions and Answers Already Passed All of the following are correct about the required provisions of a health insurance policy EXCEPT A. The entire contract clause means the signed application, policy, endorsements, and attachments constitute the entire contract. B. A reinstated policy provides immediate coverage for an illness. C. Policies become incontestable after being in force for 3 years. D. A grace period of 31 days is found in an annual pay...