NYL Last Day
Under the mandatory uniform provision Notice of Claim, the first notice of injury or sickness covered under an accident and health policy must contain
A statement that is sufficiently clear to identify the insured and the nature of the claim
All of the following statements are true regarding installments for a fixed amount EXCEPT
the payments will stop when the annuiant dies
In an Adjustable Life policy all of the following can be changed by the policy owner EXCEPT
the type of investment
How many eligable employees must be included in a contributory plan?
75%
All other factors being equal, the least expensive first-year premium payment is found in
Annually Renewable Term
Which of the following provisions in annuity contracts allow the owner to surrender the annuity if interest rates drop to a specified level?
Bail-out
All of the following are duties and responsabilities of producers at the time of application EXCEPT
Change any incorrect statement on the application by personally initiating next to the correct statement
How often must the Commissioner examine rating organizations?
Every 5 years
Which policy component decreases in decreasing term insurance?
Face amount
An insurance company assures its new policyholders that their premium costs will not increase for a period of at least five years. However, due to increasing financial strain, they plan to raise premium costs for all insureds by 10% over the next two years. What term best describes this act?
Fraud
The policyowner wants to make sure that upon his death, the life policy will pay a portion of the proceeds annually to his spouse, but that the principal will be paid to their children when they reach a certain age. Which settlement option should the policyowner choose?
Interest only option
If a dental plan is intergrated, it is combined with what type of plan?
Medical
A long- term care insurance shopper's guide must be provided in the format develooped by which of the following?
NAIC
A medical insurance plan in which the health care provider is paid a regular fixxed amount for providing care to the insured and does not recieve additional amounts of compensation dependent upon the procedure performed is called
Prepaid plan
Which nonforfeiture option provides coverage for the longest period of time?
Reduced paid-up
When an employee is still employed upon reaching age 65 and eligable for Medicare, which of the following is the employee's option?
Remain on the group health insurance plan and defer elligability for Medicare until retirement
All of the following are unfair claims settlement practives EXCEPT
Suggesting negotiations in settling the claim
Which of the following entities must approve all continueing education courses in this state?
The Commissioner
Which of the following is NOT the consideration in a policy?
The application given to a prospective insured
Which of the following is NOT the purpose of HIPAA
To provide immediate coverage to new employees who had been previously covered for 18 months
Who effectuates viatical settlement contracts?
Viatical settlement providers
Federal law makes it illegal for any individual convicted of a crime involving dishonesty or breach of trust to work in the business of insurance affecting interstate commerce
Without recieving written consent from an insurance regulatory authority