Insurance test 2

Annually renewable term policy with a cash value account

A Universal Life Insurance policy is best described as a/an - Annually renewable term policy with cash value account - Variable life with a cash value account - Whole life policy with two premiums: target and minimum - Flexible premium variable life policy

At distribution, all amounts received by the employees are tax-free

All of the following are TRUE of the federal tax advantages of a qualified plan EXCEPT - Funds accumulate on a tax-deferred basis - Employee and employer contributions are not counted as income tax purposes - At distribution, all amounts received by the employee are tax free - Employer contributions are tax deductible as ordinary business expenses

Fixed-period installments

All of the following are dividend options EXCEPT - Reduction of premium - Paid-up additions - Fixed-period installments - Accumulated at interest

A group needing low-cost life insurance

All of the following could own group life insurance EXCEPT - A debtor group - A group needing low-cost life insurance - A group sponsored by an employer - An alumni group

The Guaranty Association

All of the following entities regulate variable life policies EXCEPT - The Guaranty Association - Federal government - The SEC - The Insurance Department

$10,000, no tax consequence

An employee quits her job where she has a balance of $10,000 in her qualified plan. If she decides to do a direct transfer from her plan to a Traditional IRA, how much will be transferred from one plan administrator to another and what is the tax consequence of a direct transfer? - $8,000, tax on growth only - $10,000, tax on growth only - $10,000, no tax consequence - $8,000, no tax consequence

Refund the premiums paid

An insured committed suicide one year after his life insurance policy was issued. The insurer will - Pay the policy's cash value - Pay the full death benefit to the beneficiary - Pay nothing - Refund the premiums paid

*****$50,000

An insured owns a $50,000 whole life policy. At age 47, the insured decides to cancel his policy and exercise the extended term option for the policy's cash value, which is currently $20,000. What would be the face amount of the new term policy?

Consideration

An insured pays an annual premium to his insurer. In return, the insurer promises to pay benefits in accordance with the terms of the contract. This is called - Acceptance - Consideration - Conditions - Utmost good faith

Increases annually

Annually renewable term policies provide a level death benefit for a premium that

$50,000

Before he dies, an annuitant had receives $12,500 in monthly benefits from his $25,000 straight life annuity. He was also the insured under a $50,000 paid-up whole life policy that named his wife as primary beneficiary. Considering both contracts, how much will the annuitant's spouse receive in benefits? - $50,000 - 62,500 - $75,000 - Nothing

They are not included as income for the employee, but are taxable upon distribution

How are contributions to a tax-sehltered annuity treated with regards to taxation?

It is a percentage of the cash value and decreases over time

If a deferred annuity is surrendered prematurely, a surrender charge is imposed. How is the surrender charge determined?

(question 10) Securities

If an agent wishes to sell variable life policies, what license must the agent obtain? - Adjuster - Surplus lines - Personal lines - Securities

Misdemeanor

Selling insurance policies without an appropriate license in this state is considered a - Fraud - Class A violation - Misdemeanor - Felony

Unemployment income

Social Security was created to provide all of the following benefits EXCEPT - Unemployment income - Survivor's benefits - Disability income - Retirement income

Level fixed

Variable Whole life insurance is based on what type of premium?

Annuity

Which of the following products will protect an individual from outliving their money? - Adjustable life policy - Permanent life insurance - Annuity - Joint and survivor policy

(question 7) Automatic premium loan

Which of the following protects the insured from an unintentional policy lapse due to a nonpayment of premium? - Reinstatement - Reduced paid-up option - Automatic premium loan - Extended term

It transfers rights of ownership from the owner to another person

Which of the following statements is TRUE about a policy assignment? - It authorities an agent to modify the policy - It transferees rights of ownership from the owner to another person - It is the same as a beneficiary designation - It permits the beneficiary to designate the person to receive the benefits

They can be changed inly with the written consent of that beneficiary

Which of the following statements is TRUE concerning irrevocable beneficiaries? - They may be changed only on the anniversary date of the policy - They can be changed inly with the written consent of that beneficiary - They may be changed at any time - They can never be changed

A STOLI policy

An investor buys a life policy on an elderly person in order to sell it for a life settlement, This is an example of - A prearranged funeral plan - A viatical settlement - Third-party ownership - A STOLI policy

3 years

If an insurance company has their Certificate of Authority revoked for failure to pay a judgement within 90 days after paying the judgement, they will be barred from doing business in Mississippi for a period of - 2 years - 3 years - 90 days - 1 year

Insurable interest

Stranger-originated life insurance policies are in direct opposition to the principle of - Indemnity - Insurable intrest - Law of large numbers - Good faith

Protect private customer information filed with a financial institution

The Gramm-Leach-Bliley Act was passed to - Allow consumers access to credit and private consumer reports - Allow insurance companies access to medical information for underwriting purposes - Protect private customer information filed with a financial institution - Define insurance as interstate commerce

****Tax deductible by the employer

The premiums paid by the employer in a business life insurance policy are - Always taxable to the employee - Never taxable to the employee - Tax deductible by the employer - Tax deductible by the employee

Face amount

What does "level" refer to in level term insurance?

It determines if the insurance policy is a MEC

What is the main purpose of the Seven-pay Test? - It guaranteed the minimum interest - It determines if the insurance policy is a MEC - It requires level premium payments for 7 years - It ensures that the policy benefits are paid out in 7 years

When the application is signed and a check is given to the agent

When is the earliest a policy may go into effect?

Standard risk is representative of the majority of people

Which of the following statements is correct about a standard risk classification in the same age group and with similar lifestyles? - Standard risk is also known as high exposure risk - Standard risk is representative of the majority of people - Standard risk pays a higher premium than a substandard risk - Standard risk requires extra rating

Paid-up option

Which option is being utilized when the insurer accumulated dividends at interest and then uses the accumulated dividends, plus interest, and the policy cash value to pay the policy up early?

Single payment or periodic payments

Which two are associated directly with the way an annuity is funded?

Revocable

Which type of beneficiary is changeable at any point? - Revocable - Contingent - Primary - Irrevocable

Option A

Which universal life option has a gradually increasing cash value and a level death benefit? - Option A - Juvenile life - Term insurance - Option B

Receives compensation related to insurance sales

An employee of an insurance producer must be licensed if the employee - Mails cancellation notices and/or policy documents to insureds - Receives compensation related to insurance sales - Accepts premium payments at the producer's office - Is hired as an underwriter or inspector

The date of medical exam

An individual applied for an insurance policy and paid the initial premium. The insurer issued a conditional receipt. Five days later the applicant had to submit to a medical exam. If the policy is issued, what would be the policy's effective date? - The date of medical exam - The date of policy delivery - The date of issue - The date of application

False advertising

An insurance company has published a brochure that inaccurately portrays the advantages of a particular insurance policy. What is this an example of? - Twisting - Defamation - False advertising - Unfair claims

***Amount of premium

In flexible premium payment plans, the term "flexible" refers to the - Cash value - Amount of premium - Death benefit - Interest rate

Sexual orientation

It would be considered unfair discrimaintation to ask an insurance applicant about whihc of the following and then use that inofmarion as a rating factor to determine insurabluty? - Address - Sexual orientation - Age - Occupation

Exclusions clause

Items stipulated in the contract that the insurer will not provide coverage for are found in the - Exclusions clause - Insuring clause - Benefit payment clause - Consideration clause

Adjusted to the insured's age at the time of renewal

Level term insurance provides a level death benefit and a level premium during the policy term. If the policy renews at the end of a specified period of time, the policy premium will be

(question 11) Annually renewable term

The LEAST expensive first-year premium is found in which of the following policies? - Annually Renewable term - Increasing term - Decreasing term - Level term

Insurance companies from adverse selection by high risk persons

The Medical Information Bureau (MIB) was created to protect - Insured from unreasonable underwriting requirements by the insurance companies - Medical examiners that perform insurance physical examinations - Insurance companies from adverse selection by high risk persons Insurance department from lawsuits by policyowner

Life income with period certain

The form of life annuity which pays benefits throughout the lifetime of the annuitant and also guarantees payment for a minimum number of years is called - Life income with period certain - Life income with refund - Joint and survivorship - Joint life annuity

6 credits

The minimum number of credits required for partially insured status for Social Security disability benefits is

Set premium rates

The ownership provision entitles the policyowner to do all of the following EXCEPT - Set premium rates - Receive a policy loan - Assign the policy - Designate a beneficiary

Reduction of premium

The policyowner pays for her life insurance annually. Until now, she has collected a nontaxable dividend check each year. She has decided that she would rather use the dividends to help pay for her next premium. What option would allow her to do this? - Cash option - Reduction of premium - Paid-up addition - Accumulation at interest

Promote the public welfare

The purpose of insurance regulation is to - Make insurance statues uniform between states - Keep agents honest - Make insurance companies pay taxes - Promote the public welfare

The state

The regulation of the insurance industry primarily rests with - The state - The NAIC - Private insurers - The federal government

6 credits

To attain currently insured status under Social Security, a worker must have eared at least how many credits during the last 13 quarters?

Certificate of authority

To legally transact insurance in this state, an insurer must obtain which of the following? - Certificate of authority - Power of attorney Business entity license - Certificate of insurance

SEC registration

To sell variable life insurance policies, and agent must receive all of the following EXCEPT - A life insurance license - SEC registration - FINRA registration - A securities license

One-sided: only one party makes an enforceable promise

What is a definition of a unilateral contract? - One author: the company wrote the contract; the insured must accept it as written - If one party makes a condition, the other party can counteroffer - One-sided: only one party makes an enforceable promise - Two or more parties go into a contract understanding there may be an unequal exchange of value

The orignial age is used for premium determination

What is the advantage of reinstating a policy instead of applying for a new one? - Proof of insurability is not required - The face amount can be increased - The cash values have gained interest while the policy was lapse - The orignial age is used for premium determination

35% of aggregate premium in any 24 months

What is the highest percentage of controlled business that a licensed agent is allowed to write? - 10% of annual aggregate premium - 35% of aggregate premium in any 24 months - 50% of annual aggregate premium - The writing of "controlled business" is prohibited

$5,000

What is the maximum fine for violating state insurance laws? - $1,000 - $5,000 - $10,000 -$25,000

18

What is the minimum age to apply for a resident license in this state? - 22 - 18 -19 -21

******Grace period

What required provision against unintentional lapse of the policy?

It is reduced to the amount of what the cash value would buy as a single premium

When a reduced-paid up nonforfeiture option is chosen, what happens to the face amount of the policy? - It decreases over the term of the policy - It remains the same as the original policy, regardless of any differences in value - It is reduced to the amount of what the cash value would buy as a single premium - It is increased when extra premiums are paid

Life income with period certain

Which life insurance settlement option guarantees payments for the lifetime of the recipient, but also specifies a guaranteed period, during which, if the original recipient dies, the payments will continue to a designated beneficiary? - Single life - Fixed-amount - Life income with a period certain - Joint and survivor

Someone who works 400 hours per year

Which of the following applicants would NOT qualify for a Keogh plan? - Someone who works 400 hours per year - Someone who has been employed for more than 12 months - Someone who is over 25 years of age - Someone who works for a self-employed individual

The performance of the policy portfolio

Which of the following determines the cash value of a variable life policy? - The company's general account - The policy's guarantees - The premium mode - The performance of the policy portfolio

Consumer report

Which of the following includes information regarding a person's credit, character, reputation, and habits? - Insurability report - Agent's report - Consumer report - Consumer history

Counteroffer

Which of the following is NOT an essential element of an insurance contract? - Consideration - Agreement - Legal purpose - Counteroffer

The premium is level for the term of the policy

Which of the following is TRUE regarding the premium in term policies? - Decreasing term policy will have a decreasing premium - The premium is level for the term of the policy - Only level term policy has a level premium - The premium in term policies is not based on the insured's age

Keogh plan

Which of the following is an IRS qualified retirement program for the self-employed? - Keogh plan - Split dollar - Buy-sell agreement - 401(k) plan

75%

Which of the following is the required number of participants in a contributory group plan? - 75% - 100% - 25% -50%

Substandard risk

Which of the following types of risk will result in the highest premium? - Substandard risk - Standard risk - Preferred risk - All risks pay equal premiums

Revocable beneficiary

A policyowner who is also the insured wants to name her husband as the beneficiary of her life policy. She also wishes to retain all of the rights of ownership. The policyowner should have her husband named as the - Contingent beneficiary - Irrevocable beneficiary - Revocable beneficiary - Secondary beneficiary

Pay the policy proceeds only if it would have issued the policy

A prospective insured receives a conditional receipt but dies before the policy is issued. The insurer will - Pay the policy proceeds only if it would have issued the policy - Pay the policy proceeds up to an established limit - Not pay the policy proceeds under any circumstance - Automatically pay the policy proceeds

The payments will stop when the annuitant dies

All of the following statements are true regarding installments for a fixed amount EXCEPT - The payments will stop when the annuitant dies - Value of the account and future earnings will determine the time period for the benefits - This option pays a specific amount until the funds are exhausted - The annuitant may select how bug the payments will be

Failing to report to the department a criminal prosecution taken against the agent in another jurisdiction

All of the following violation may result in an agent's imprisonment EXCEPT - Knowingly obtaining information about a consumer under false pretenses - Engaging in the business of insurance after being convicted of breach of trust - Failing to report to the department a criminal prosecution taken against the agent in another jurisdiction - Embezzling funds from the insurer

Has at least 50 members

An association could buy group insurance for its members if it meets all of the following requirements EXCEPT - Is contributory - Has at least 50 members - Has a constitution and by-laws - Holds annual meetings

The owner will receiver the guaranteed rate or the current rate, whichever is higher

In a deferred annuity, how do the current and guaranteed interest rates work together? - The owner will receive the guaranteed rate or the current rate, whichever is lower - The owner will always receive the guaranteed rate no matter what the current rate is - The owner will receive the average of the guaranteed and current rates - The owner will receive the guaranteed rate or the current rate, whichever is higher

Applicant's past income

In classifying a risk, the Home Office underwriting department will look at all of the following EXCEPT - Applicant's present occupation - Applicant's past income - Applicant's past medical history - Applicant's present physical condition

****The person must have at least completed secondary education

In terms of partied to a contract, which of the following does NOT describe a competent party? - The person must be under the influence of drugs or alcohol - The person must be of legal age - The person must be mentally competent to understand the contract - The person must have at least completed secondary education

A presentation of nonguaranteed elements of a policy

The term "illustration" in a life insurance policy refers to - Pictures accompanying a policy - Charts and graphs - A presentation of nonguaranteed elements of a policy - A depiction of policy benefits and guarantees

Nonrenewable coverage expiring in 8 years

To which of the following situations does the Replacement Regulation apply? - Immediate annuities purchased with proceeds from an existing policy - Coverage under a binding receipt issued by the same company - Nonrenewable coverage expiring in 8 years - Group life insurance

Must be informed of the source of the report

Under the Fair Credit Reporting Act, individuals rejected for insurance due to information contained in a consumer report

The beneficiary must have insurable interest in the insured

Which is NOT true about beneficiary designations? - The beneficiary must have insurable interest in the insured - The beneficiary may be a natural person - The policy does not have to have a beneficiary named in order to be valid - Trusts can be valid beneficiaries

Both the principal and interest will be liquidated over a selected period of time

Which of the following best describes fixed-period settlement option? - The death benefit must be paid out in a lump sum within a certain time period - Income is guaranteed for the life of the beneficiary - Both the principal and interest will be liquidated over a selected period of time - Only the principal amount will be paid out within a specified period of time

The benefit is received tax free

A corporation is the owner and beneficiary of the key person life policy. If the corporation collects the policy benefit, then - The benefit is subject to the exclusionary rule - IRS has no jurisdiction - The benefit is received as taxable income - The benefit is received tax free

Separate accounts

A domestic insurer issuing varible contracts must estbalish one or more - General accounts - Separate accounts - Liability accounts - Annuity accounts

Attempting to settle an insurance claim through arbitration

All of the following may be grounds for license suspensino or revocation EXCEPT - Accepting insurance business from an unlicensed individual - Having been convicted of a felony - Failure to pay state income taxes - Attempting to settle an insurance claim through arbitration

The annuitant receives a fixed amount of return

All of the following statements about equity index annuities are correct EXCEPT - They invest on a more aggressive basis aiming for higher returns - The annuitant receives a fixed amount of return - The interest rate is tied to an index such as the Standard and Poor's 500

When the agent delivers the policy, collects the initial premium, and the applicant completes an acceptable Statement of Good health

An agent and an applicant for a life insurance policy fill out and sign the application. However, the applicant does not wish to give the agent the initial premium, and no conditional receipt is issued. When will coverage begin? - When the agent delivers the policy, collects the initial premium, and the applicant completes an acceptable Statement of Good Health - On the designated effective date - On the application date - When the agent submits the application to the company and the company issues a conditional receipt

He will have to pay a penalty if he is younger than 59 1/2

An insured has a Modified Endowment Contract. He wants to withdraw some money in order to pay medical bills. Which of the following is true? - He will not have to pay a penalty, regardless of his age - He cannot withdraw money from his MEC before age 59 1/2 - He will have to pay a penalty if he is younger than 59 1/2 - He will have to pay a penalty regardless of his age

Pay the death benefit

An insured purchased. life policy in 2010 and dies in 2020. The insurance company discovers at that time the insured has misstated information about her insurance history on the application. What will the insurer do? - Sue for the right to not pay the death benefit - Pay the death benefit - Refuse to pay the death benefit because of the misstatement on the application - Pay a decreased death benefit

Inspection report

An insurer receives a report regarding a potential insured that includes the insured's financial status, hobbies and habits. What type of report is that? - Inspection report - Medical Information Bureau's report - Agent's report - Underwriter's report

10 years

Any licensed person whose activities affect interstate commerce and who knowingly makes false material statements related to the business of insurance may be imprisioned for up to - 3 years - 5 years - 10 years - 12 years

To the spouse of a deceased producer

To which of the following instances may an insurer pay a commission? - To the spouse of a deceased producer - To the bisness partner of a deceased producer - To an unlicensed individuals, acting as a broker - To an unlicensed individual, acting as an agent

Joint life

Twin brothers are starting a new business. They know it will take several years to build the business to the point that they can pay off the debt incurred in starting the business. What type of insurance would be the most affordable and still provide a death benefit should one of them die? - Ordinary life - Joint life - Decreasing term - Whole life

HR-10 (Keogh plan)

Two attorneys operate their practice as a partnership. They want to start a program through their practice that will provide retirement benefits for themselves and three employees. They would likely choose - Section 457 deferred compensation plan - 403(b) plan - 401(k) plan - HR-10 (Keogh plan)

For 20 years or until death, whichever occurs first

Under a 20-pay whole life policy, in order for the policy to pay the death benefit to a beneficiary, the premiums must be paid - Until the policyowner's age 100, when the policy matures - For 20 years or until death, whichever occurs first - Until the policyowner reaches age 65 - For at least 20 years

Corporate bond

Upon assuming office, the Commissioner must post a(n) - Administrator bond - Performance bond - Corporate bond - Litigation bond

Naming beneficiaries as a group

Using a class designation for beneficiaries means - Not naming beneficiaries - Naming an estate as the beneficiary - Naming each beneficiary by his or her name - Naming beneficiaries as a group

The number of payments that purchase the annuity

What is the difference between a single premium and a flexible premium payment options in a deferred annuity?

To explain features and benefits of a proposed policy to the consumer

What is the purpose of a disclosure statement in life insurance policies? - To protect agents and insurers against lawsuits - To explain features and benefits of a proposed policy to the consumer - To obtain important underwriting information from the applicant - To help consumers compare policy prices

To protect the insurer from persons who purchase life insurance with the intention of committing suicide

What is the purpose of a suicide provision within a life insurance policy? - To protect the policyowner - To protect the insurer from persons who purchase life insurance with the intention of committing suicide - To limit the insurer's liability after the 2 year waiting period - To deter the policyowner from committing suicide

Aleatory

Which of the following best describes the concept that the insured pays a small amount of premium for a large amount of risk on the part of the insurance company? - Subrogation - Warranty - Aleatory - Adhesion

The earnings in a qualified plan accumulate tax deferred

Which of the following best describes the tax advantage of a qualified retirement plan? - Employer contributions are taxed as income to the employee - The earnings in a qualified plan accumulate tax deferred - Distributions prior to age 59 1/2 are tax deductible - Employer contributions are tax deductible, as long as employee earnings are considered taxable income

Cash value

Which of the following components must a life insurance policy have to allow policy loans? - Flexible premiums - Face amount - Cash value - Dividends

Size of each installment

Which of the following determines the length of time that benefits will be received under the Fixed-Amount settlement option?

Fraternal benefit society

Which of the following entitled is not insurer but an organization formed to provide insurance benefits for members of an affiliated lodge or religious organization? - Reciprocal association - Fraternal benefit society - Mutual company - Stock company

Policyowner

Which of the following individuals must have insurable interest in the insured? - Underwriter - Producer - Policyowner - Beneficiary

An individual who wants to grow retirement funds tax deferred

Which of the following individuals would be likely candidate to purchase a deferred annuity? - Someone who wants to leave the death benefit to the beneficiaries - A person at age 55 who cannot afford life insurance - An individual who wants to grow retirement funds tax deferred - Someone who needs to start receiving benefit payments within 6 months of the annuity purchase

****The amount of premium payment

Which of the following information will be stated in the consideration clause of a life insurance policy? - The conditions for insurability - The amount of premium payment - The parties to the contract - The time period allowed for the payment of premium

The application given to a prospective insured

Which of the following is NOT the consideration in a policy? - The premium amount paid at the time of application - The promise to pay covered losses - the application given to a prospective insured - Something of value exchanged between partied

It is issued to group insurance participants

Which of the following is NOT true regarding a Certificate of Authority? - It is issued to group insurance participants - It may be necessary for transacting business in a specific state - It is equivalent to an insurance license - It is issued by the state department of insurance

Income payments begin within 1 year from the date of purchase

Which of the following is NOT true regarding a deferred annuity? - The annuity grows tax deferred - Income payments begin within 1 year from the date of purchase - It is used to accumulate funds for retirement - It can be purchased with a single lump sum

Benefits stop at the annuitant's death

Which of the following is NOT true regarding an annuity certain? - It will pay until a fixed amount is liquidated - There are no life contingencies - It is a short-term annuity - Benefits stop at the annuitant's death

(question 6) Money borrowed from the cash value is taxable

Which of the following is NOT true regarding policy loans? - An insurer can charge interest on outstanding policy loans - A policy loan may be repaid after the policy is surrendered - Money borrowed from the cash value is taxable - Policy loans can be repaid at death

Death due to plane crash for a fare-paying passenger

Which of the following is NOT typically excluded from life policies? - Death that occurs while a person is committing a felony - Death due to war or military service -Death due to plane crash for a fare-paying passenger - Self-inflicted death

It begins when the policy is delivered

Which of the following is TRUE about the 10-day free-look period in a Life insurance policy? - It begins when the policy is delivered - It begins when the application is signed - It applies only to term life insurance policies - It is optional on all life insurance policies

Variable whole life has a guaranteed death benefit

Which of the following is a key distinction between variable whole life and variable universal life products? - Variable universal life is regulated solely through FINRA - Variable whole life allows policy loans from the cash value - Variable universal life has a fixed premium - Variable whole life has a guaranteed death benefit

Have attained fully insured status

Which of the following is an eligibility requirement for all Social Security Disability Income benefits? - Be at least age 50 - Have attained fully insured status - Be disabled for at least 1 year - Have permanent kidney failure

(question 8) They allow several small employers purchase less expensive insurance together

Which of the following is true regarding METs? - They allow several small employers purchase less expensive insurance together - They make deals with local hospitals to provide low cost coverage to the needy - They provide insurance for larger corporations - They provide insurance companies with medical information on applicants

That its policies are coverd by a state Guaranty Association

Which of the following may NOT be included in an insurance companyys advertisemrnt? - An idefitication of a limited policy as limited policy - That its policies are covered by the state Guaranty Association - Their polocies' limitations or exclusions - The name of the specific agent

Universal life - option a

Which of the following policies would have an IRS required corridor or gap between the cash value and the death benefit? - Universal life - option b - Equity indexed universal life - Variable universal life - Universal life- option a

Automatic premium loan

Which of the following protects the insured from an unintentional policy lapse de to a nonpayment of premium? - Extended term - Reinstatement - Reduced paid-up option - Automatic premium loan

Discriminating in benefits and coverage based on the insured's habits and lifestyle

Which of the following will NOT be considered unfair discrimination by insurers? - Discriminating in benefits and coverage based on the insured's habits and lifestyle - Charging applicants with similar health histories different premiums based on their ethnicity - Cancelling individual coverage based on the insured's marital status - Assigning different risk classifications to applicants based on gender identity

Paid-up option

Which option is being utilized when the insurer accumulates dividends at interest and then uses the accumulated dividends, plus interest, and the policy cash value to pay the policy up early? - Dividend accumulation option - Paid-up option - Accumulation at intrest - Paid-up additions

A joining together by employers to provide health benefits for employee

Which statement best defines a Multiple Employer Welfare Arrangement (MEWA)? - A group health plan that covers medical expenses arising from work related injuries - A joining together by employers to provide health benefits for employee - A plan that provides hospice care for terminally ill employee - A government health plan that provides health care for the unemployed