Utah life and h - Study guides, Class notes & Summaries

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....

UTAH LIFE AND HEALTH INSURANCE PRODUCER EXAM WITH 200 QUESTIONS AND 100% CORRECT ANSWERS / STATE OF UTAH LIFE AND HEALTH PRODUCER EXAM 2024 (NEW!!) Before using an assumed name in the state of Utah, a producer must notify - ANSWER-the Commissioner An insurer who is domiciled outside of Utah, but within the US is referred to as a - ANSWER-Foreign insurer What does Medicare part D cover - ANSWER-prescription drugs The power given to an individual producer that is not specifically address...

Utah Life and Health Exam- Chapter 8: Individual Accident and Health Insurance Policy Provisions Latest 2024 Graded A+ Ray has an individual major medical policy that requires a coinsurance payment. Ray very rarely visits his physician and would prefer to pay the lowest premium possible. Which coinsurance arrangement would be the best for Ray? a- 75/25 b- 80/20 c- 90/10 d- 50/50 d- 50/50. After the deductible has been paid, the insurance company will pay a specified amount for a p...

Ray has an individual major medical policy that requires a coinsurance payment. Ray very rarely visits his physician and would prefer to pay the lowest premium possible. Which coinsurance arrangement would be the best for Ray? a- 75/25 b- 80/20 c- 90/10 d- 50/50 - Answer d- 50/50. After the deductible has been paid, the insurance company will pay a specified amount for a physician's visit, while the insured pays the remaining percentage. This is called "coinsurance". Plans will ofte...

Which of the following is true regarding taxation of dividends in participating policies? a- Dividends are taxable in some life insurance policies and nontaxable in others. b- Dividends are considered income for tax purposes. c- Dividends are not taxable. d- Dividends are taxable only after a certain amount is accumulated annually. - Answer c- Dividends are not taxable; Dividends are not considered to be income for tax purposes, since they are the return of unused premiums. The interest ...

Which of the following dental insurance categories would cover the filling of cavities? a- This type of work is not covered. b- Routine and preventative maintenance. c- Routine and major restorative care. d-Orthodontic care. - Answer c- Routine and major restorative care; Routine and major restorative care covers the costs of dental work, such as oral surgery, bridges, dentures, and cavity treatment. Routine and preventative maintenance covers routine dental check-ups only. At what po...

An employee is insured under her employer's group life plan. If she terminated her group coverage, which of the following statements is INCORRECT? - Answer The insured may choose to convert to term or permanent individual coverage. An insurance policy that only requires a payment of premium at its inception, provides insurance protection for the life of the insured, and matures at the insured's age of 100 is called? - Answer Single premium whole life. A Universal Life Insurance pol...

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