TX Life and Health: TX Statutes and Rules Pertinent to Life Insurance Only
If an HMO policy is cancelled for nonpayment of the amounts due under the contract, how long of a notice must the insurer give the insured?
30 days
what provision in a life insurance policy extends coverage beyond the premium due date?
grace period
Which of the following must be included in all life insurance advertisements?
identity of the actual insurer
All of the following information must be included in the evidence of coverage for an HMO plan EXCEPT
insurance agent's name and license number
All advertisements are the responsibility of the
insurer
Illustration
means a presentation or depiction that includes non guaranteed elements of a life insurance policy over a period of years.
upon the submission of a death claim under a life insurance policy when must the insure pay the policy benefit?
within 2 months
Which of the following is used to compare the cost of one life insurance policy against another in order to guide prospective purchasers to policies that are competitively priced?
cost cost comparison methods
If a person is compensated for a testimonial in an advertisement which of the following statements should be included in the advertisement?
paid endorsement
An HMO subscriber no longer meets plan eligibility requirements. When can the insurer cancel coverage?
Immediately
The usage of words or symbols that are similar to what entity is prohibited in life insurance advertisements?
Federal government
All of the following are to be included in the application for a certificate of authority ti act as HMO EXCEPT
Records of previous insures
All of the following are mandatory life insurance policy provisions EXCEPT
policy backdating
An advertisement must accurately represent which of the following?
shall not contain untrue or misleading statements regarding the insurer's assets, corporate structure financial standing, age, or position in the insurance business
HMOs that contract with outside physicians to provide health care service to their subscribers compensate those providers on a
Capitation basis
what is the main purpose of the regulation on life insurance policy illustrations?
to help customers make educated decisions in buying life insurance.
Which of the following CANNOT be included along with illustrations used to sell life insurance?
vanishing premium information
Viatical Settlement may be rescinding within what time period after the viator receives the proceeds
15 days
Each HMO enrollee must be provided
Evidence of coverage
Which in the policy must the HMO insure provide informaqtion about the HMO's name,address, and toll-free number?
Face page
When possible what should insurers strive to eliminate from illustrations?
Footnotes and caveats
Which of the following would be required to obtain a Certificate of Authority
HMO