Insurance License: Georgia Rules and Codes Pertinent to Life and Accident & Sickness Insurance Only

How soon from the reinstatement of a health insurance policy would a loss be covered?

10 days

What is the minimum age for purchasing a life insurance policy in this state?

15

When a policy is replaced, replacing insurers must maintain a replacement register regarding that policy until the conclusion of the next regular examination by the Insurance Department or for

3 years

All accident and health insurance policies issued in this state must include a grace period of at least

30 days

All of the following are examples of violations of replacement EXCEPT

Advising an applicant to answer questions correctly

A group policy used to provide accident and health coverage on a group of persons being transported by a common carrier, without naming the insured persons individually is called

Blanket policy

An outline of coverage must be given to the applicant for a long-term care policy no later than

The time of initial solicitation

Which provision stipulates that misstatements made in a health insurance application may not be used to deny a claim after the policy has been in force for 2 years?

Time limit on certain defenses

An application for life insurance usually requires the agent to ask if the proposed insurance will replace an existing life insurance policy. All of the following are purposes for obtaining this information EXCEPT

To ensure that at least three companies are involved so the policyowner gets competitive prices

What is the purpose of Life Insurance Solicitation regulation?

To help consumers compare life insurance products in regard to their relative cost

Group accident and sickness policies in Georgia have a grace period of

31 days

A group blanket health policy is best suited for which of the following

A summer camp

The term "conservation effort" deals with

Discouraging policyholders from dropping existing policies.

Which of the following would NOT be considered a purpose of life insurance solicitation regulations in Georgia?

Help buyers choose most qualified insurance producers

Who is responsible for the contents of life insurance advertising?

The insurer

Which of the following terms will be permissible in describing a life insurance policy in company advertisements?

Variable plan

Insurers must keep files of all advertisements used in Georgia for the minimum of how many years?

4

Any references to policy dividends must include a statement of what?

That the dividends are not guaranteed

If policyowners repeatedly replace policies from the same agent, this is most likely evidence that

The agent knew that replacement was intended in connection with the sale and intentionally violated the replacement regulation

The entire contract is made up of all of the following EXCEPT

The buyer's guide

If an insured's cognitive impairment results in the lapse of a long-term care policy, how long from the policy lapse may the insured request reinstatement?

5 months

An insurer filed a form with the Commissioner 90 days ago, but the Commissioner has yet to approve or disapprove the form. What can the insurer do?

Consider the form approved and begin using it

Insurers must screen all marketing plans to ensure that an advertisement does NOT use as the name of any kind of an annuity contract any phrase that

Does not include the word "annuity" unless accompanied by other clear language indicating it is an annuity

Which required provision allows an insured to pay overdue premiums within 30 days for a life insurance policy to remain in effect?

Grace period

Whenever agents submit applications to insurers, they must also submit statements, signed by the applicant and agent, disclosing the involvement or lack of involvement of

Replacement

How long is the free-look period for long-term care policies issued in Georgia?

30 days

The inflation protection feature in long-term care policies issued in this state must provide protection for inflation at what percent annually?

5%

What is the maximum allowed rate of interest on policy loans from life insurance?

8%

Once an individual is licensed as an insurance producer for life or accident and health insurance, how many hours of training must the producer complete initially to sell long-term care insurance partnership policy?

8 hours

How long is the waiting period for benefits to be paid in a long-term care policy or rider?

90 days

Medicare supplements specifically exclude all of the following EXCEPT

Surgical expenses of persons eligible for Medicare

The act of trying to discourage a policyholder from dropping his/her existing policy is called

Conservation effort

If an applicant intends to replace any existing accident and sickness policy with a Medicare supplement policy, what must the agent furnish to the applicant?

A notice regarding replacement

Qualifications for soliciting, selling, or negotiating a long-term care partnership policy include all of the following EXCEPT

Obtaining a partnership policy license from the Commissioner