Alabama life and health
What are the two major approaches to defining "totally disabled" for Disability Income insurance? A. "Your" occupation or "Any" occupation B. "Partial" disability or "Total" disability C. "Actual" disability or "Presumptive" disability D. "Residual" disability or "Recurrent" Disability
"Your" occupation of "Any" occupation
For life insurance purposes, all persons are considered to be statistically 'dead' at age A. 88. B. 92. C. 96. D. 100.
100
A straight life annuity provides which of the following? A. A periodic income to the annuitant for life B. A guaranteed maximum benefit C. Income payments to a beneficiary after the annuitant's death D. A periodic income to the annuitant for a stipulated number of years
A. A periodic income to the annuitant for life
The income period when a surviving spouse does not qualify for Social Security survivor or retirement benefits is called the A. Blackout Period. B. Family Dependency Period. C. Retirement Period. D. Disability Period.
A. Blackout Period.
Alabama law regulates Life insurance benefits with respect to minors. Which statement is FALSE? A. Minors can receive benefits without restriction. B. A minimum age of 18 is necessary to receive life insurance benefits. C. At age 19 there are no restrictions or limitations to minors receiving life insurance benefits. D. 18-year olds may receive a limit of $3,000 in life benefits in any one year.
A. Minors can receive benefits without restriction
Paid-up Additions act as a default if the Policyholder doesn't indicate an option. Paid-up Additions are: A. Single payment premiums which purchase additional amounts of insurance which add to the face amount. B. Taxable as income. C. Additional insurance that is typically cheaper than could be purchased otherwise. D. Half of the cost of the original insurance protection.
A. Single payment premiums which purchase additional amounts of insurance which add to the face amount.
When a policyowner permanently turns over all rights in a policy to an assignee it is called A. an absolute assignment. B. a collateral assignment. C. a conditional assignment. D. an executory assignment.
A. an absolute assignment.
"Community Rating" generally means the insurer charges A. different rates for everyone in a geographic area. B. the same rate for everyone in a geographic area. C. rates based on claims experience within underwriting groups. D. all of the above.
B. the same rate for everyone in a geographic area.
Oliver has a life insurance policy with a $50,000 death benefit. At his death, there is a $5000 policy loan outstanding. Which of the following statement is CORRECT? A. The insurer will pay the beneficiary $50,000 and then collect the $5000 loan. B. The insurer will not pay the death benefit until the loan has been repaid. C. The insurer will subtract the amount of the loan and pay $45,000 to the beneficiary. D. The insurer will pay the beneficiary $50,000 and continue to collect payments and interest on the loan.
C. The insurer will subtract the amount of the loan and pay $45,000 to the beneficiary.
If you suffer a loss linked directly to your use of intoxicants or non-prescribed narcotics, what is the effect? A. Your claim might be reduced to 50%. B. Rehabilitation services will be offered to get you back to work. C. Your claim may be denied by the carrier. D. It depends upon who pays the premium.
C. Your claim may be denied by the carrier
The fundamental insurance concept that an insured should not profit from a loss but should be restored in whole or in part to the approximate financial condition occupied before the loss is known as the principle of A. insurable interest. B. adverse selection. C. indemnity. D. estoppel.
C. indemnity
The "elimination period" refers to A. the same time period for both accident and sickness insurance. B. the time period before the insured is eligible for a health plan. C. the time period after a disability starts and before the insured may begin receiving disability income benefits. D. all of the above.
C. the time period after a disability starts and before the insured may begin receiving disability income benefits
In general, advertising would include each of the following EXCEPT: A. Communication used to persuade the purchase of insurance. B. Communication used to encourage policy renewal. C. Communication used to encourage reinstatement. D. Communication of administrative matters.
D. Communication of administrative matters.
Billy is the owner of a life insurance policy and has chosen a policy settlement option under which the company will pay the beneficiary (his widow) an income each month for as long as she lives. Payment stops at her death. Which settlement option has Billy selected? A. Fixed amount option B. Fixed period option C. Interest only option D. Life income option
D. Life income option
Contracts must have consideration. Insurance contracts are considered to be aleatory contracts. This means what? A. The promise to pay claims is equal to the premium payments. B. Any premium overages and/or shortfalls are adjustments to claim payments. C. If a claim happens early in the policy life, premiums may be due following the death of the insured life. D. The promise to pay claims will most likely not be equal to all premium payments.
D. The promise to pay claims will most likely not be equal to all premium payments.
Which of the following is CORRECT regarding Alabama's annuity suitability regulation? A. The producer must make every effort to obtain information to clarify the prospective purchaser's financial status, tax status and investment objectives. B. The producer must have reasonable grounds to believe the recommended annuity purchase is suitable based on the facts disclosed. C. The producer must maintain records of information obtained for at least three years after the transaction. D. all of the above are correct.
D. all of the above are correct.
When must the insurable interest exist for life insurance? A. at the time of death B. at policy maturity C. at the policy date D. at the time of application
D. at the time of application
A level term policy is one where A. the premium remains the same as the protection is reduced. B. protection remains level as premiums are increased. C. protection remains level while the premium is decreased. D. the premium and the protection remain constant for the term of the policy.
D. the premium and the protection remain constant for the term of the policy.
Which of the following is CORRECT regarding a Health Maintenance Organization (HMO) operating in Alabama? A. The Insurance Commissioner cannot examine an HMO every year. B. Every HMO must have a complaint system to resolve written complaints from enrollees. C. HMOs are not subject to regulation by the Insurance Commissioner. D. HMOs are regulated by the Insurance Commissioner but cannot be assessed an administrative penalty for violations of the law.
Every HMO must have a complaint system to resolve written complaints from enrollees
The Suicide Clause has what effect? A. It excludes suicide as a cause of loss. B. Suicide reduces the death benefit. C. It voids the policy because the insured's estate cannot profit from a crime. D. It excludes suicide during the first two years.
It excludes suicide during the first two years
A form of welfare that provides assistance to the needy is: A. Workers Compensation B. Railroad Retirement C. Medicaid Your Answer D. Medicare
Medicaid
Most major medical policies include as eligible expenses coverage of A. hospital room and board, intensive care, and hospital medical and surgical services. B. physicians' medical, diagnostic and surgical services. C. nursing services, outpatient services and ambulance charges. D. all of the above.
all of the above
Which of the following are true regarding Medicare Prescription Drug Coverage (Part D)?
all of the above
The Grace Period has what effect? A. Permit the applicant to correct errors on the application without penalty. B. The extension of time for the company to pay a claim. C. An extension of time to pay a late premium. D. Claims that occur during the grace period are reduced by 50%.
an extension of time to pay a late premium
Under a collateral assignment, the policyowner A. assigns only a portion of the policy proceeds to the assignee. B. assigns the entire amount of the proceeds to the assignee. C. receives a certificate for the proceeds from the assignee. D. must include additional collateral in order to receive the full loan value of the policy.
assigns only a portion of the policy proceeds to the assignee
How can 'Key Employee' disability income insurance purchased by a business be used by the business? A. To temporarily replace the key employee. B. As a salary continuation for the disabled key employee. C. Both. the above. D. None of the above.
both of the above
If Todd has been named the irrevocable beneficiary of a life insurance policy, he A. cannot be replaced as beneficiary without his consent. B. may be replaced as beneficiary at any time. C. may be replaced but only by another irrevocable beneficiary. D. is responsible for the premium payments
cannot be replaced as beneficiary without his consent.
Alabama's "replacement" regulation applies to all of the following EXCEPT: A. term life insurance. B. whole life insurance. C. universal life insurance. D. credit life insurance.
credit life insurance
The State's Nonforfeiture Law is supported by? A. Dividend Option. B. Settlement Options. C. Reinstatement Provisions. D. Nonforfeiture Clause.
dividend option
Under the typical Coordination of Benefits Clause in Group Health Insurance, how is primary coverage determined? A. If husband and wife both have coverage from their respective employer, both policies are primary. B. The husband's policy is primary and the other is excess. C. The highest income earner's policy is primary and the other is excess. D. The employee's plan is primary and the other may be excess.
the employees plan is primary and the other may be excess
In a decreasing term policy which of the following decreases each year? A. The cash value B. The reserve C. The premium D. The face amount
the face amount
The current rate of interest paid to the cash value account of a universal life policy consists of A. the guaranteed interest rate or the current interest, whichever is higher. B. the current interest rate only. C. the guaranteed interest rate only. D. the interest index.
the guaranteed interest rate or the current interest, whichever is higher
Renewable Term guarantees A. the cost of insurance. B. the insured's age. C. the insured's insurability. D. the right of conversion to Whole Life.
the insureds insurability
Darlene dies without having paid the $500 premium on her $50,000 policy that was due a week before her death. With no outstanding policy loans, Darlene's beneficiary can expect to receive A. all $50,000 of the policy proceeds since Darlene died during the grace period and the last premium is therefore waived. B. none of the policy proceeds since Darlene died without having paid her last premium. C. $49,500, which is the face amount less the premium owed. D. All $50,000 of the policy proceeds, but only if the $500 premium is paid by the beneficiary.
$49,500, which is the face amount less the premium owed
An immediate annuity with quarterly payments will begin making payments A. 1 month after the annuity is purchased. B. 3 months after the annuity is purchased. C. 6 months after the annuity is purchased. D. 1 year after the annuity is purchased.
. 3 months after the annuity is purchased.
A man with an Accidental Death & Dismemberment (AD&D) policy having a Principal Sum of $100,000 and a Capital Sum of $50,000 loses a leg due to a blood clot which was not due to an accident. The policy will pay A. $0 Your Answer B. $50,000 C. $100,000 D. $150,000
0
In noncontributory group insurance plans, what percentage of eligible employees must be covered by the plan? A. at least 50% B. at least 75% C. at least 90% D. 100%
100%
An individual insurance producer who allows his or her license to lapse may, within a maximum period of ________ months from the due date of the renewal fee, reinstate the same license without having to complete the prelicensing course or pass a written examination. A. 6 B. 12 C. 24 D. 36
12
If administrative action is taken against you, or you are criminally prosecuted in another jurisdiction, you have how long to submit notice to the Alabama Commissioner? A. 30 days B. 60 days C. The end of the license period D. Immediately
30 days
According to Required Health Policy Provisions, the insured is prevented from filing suit against the insurer for at least A. 20 days and not longer than one year from the date of proof of loss. B. 30 days and not longer than three years from the date of proof of loss. C. 60 days and not longer than three years from the date of proof of loss. D. 90 days and not longer than five years from the date of proof of loss.
60 days
Which of the following statements about key employee life insurance is true? A. The business is always the owner and beneficiary of key employee insurance. B. The employee is always the insured and owner of key employee insurance. C. The key employee contributes a portion of the premium payment. D. The policy proceeds will allow the key employee to fund a buy-sell agreement.
A. The business is always the owner and beneficiary of key employee insurance
A beneficiary is always which of the following? A. The person named to receive the sum specified in a life insurance contract when the insured dies. B. The person who receives the proceeds of a life insurance policy whether the insured dies or not. C. The insured under the policy. D. The spouse of the insured.
A. The person named to receive the sum specified in a life insurance contract when the insured dies
When a dependent child covered under the parents' major medical policy reaches the limiting age, what is the provision that allows the child to purchase his or her own policy without establishing insurability? A. conversion privilege B. assignment C. redirection of policy benefits D. corridor deductible
A. conversion privilege
A disability that is presumed to result from the same or a related cause of prior disability is called a A. recurrent disability. B. residual disability. C. presumptive disability. D. delayed disability.
A. recurrent disability.
This rider can be attached to a permanent life insurance policy to add more coverage for a limited time. A. term rider B. guaranteed insurability rider. C. return of premium rider. D. cost of living rider.
A. term rider
The Optional Provisions of a standard Health policy address the issue of claims arising from "illegal occupations," "commission of felonies," and "use of narcotics." According to these provisions A. the insurer is not liable for claims arising under the conditions described in these provisions. B. claims arising under the conditions described will be paid, but the policy will be cancelled immediately. C. claims arising under the conditions described will be paid, but the benefits will be lower. D. claims arising under the conditions described will be paid provided the insured pays a higher premium to cover the increased risk.
A. the insurer is not liable for claims arising under the conditions described in these provisions.
A contract requires an Offer and Acceptance. What constitutes a valid offer? A. A television ad. B. A brochure. C. A billboard. D. An application and premium payment submitted to the company or one of its agents.
An application and premium payment submitted to the company or one of its agents.
The Entire Contract Provision stipulates each of the following EXCEPT: A. The entire contract includes the application. B. Any verbal changes made by the agent are permissible if in writing. Your Answer C. Statements made on the application are representations and not warranties. D. Riders and amendments are part of the entire contract.
Any verbal changes made by the agent are permissible if in writing.
If William has a major medical plan on himself, his wife Harriet, and their son Bill, what happens when daughter Bess is born? A. She is covered from the moment of birth if the policy provides maternity benefits. B. She is covered from the moment of birth even if the policy does not provide maternity benefits. C. She is covered after the pre-existing conditions period passes. D. She is covered after the probationary period passes.
B. She is covered from the moment of birth even if the policy does not provide maternity benefits.
If you misstate your age when applying for Disability Income insurance, you may suffer what consequence at claim time? A. Your policy will be canceled. B. Your benefits will be reduced if your age is higher than stated. C. It depends upon when the claim occurs. The Incontestable Clause prohibits the company from taking action after two years. D. No effect - your age is not a factor in rating the policy.
B. Your benefits will be reduced if your age is higher than stated.
With respect to an insurance application A. a representation is a statement by the applicant which is guaranteed to be true. B. all statements made by the applicant are considered to be representations. C. all statements made over the applicant's signature are guaranteed to be true. D. all statements made are considered to be warranties.
B. all statements made by the applicant are considered to be representations.
The "entire contract" law in Alabama says A. the policy alone is the entire contract. B. the policy and the application (or a summary of the application) constitute the entire contract. C. the policy and a copy of the initial receipt constitute the entire contract. D. the application and a copy of the initial receipt constitute the entire contract.
B. the policy and the application (or a summary of the application) constitute the entire contract.
Joe, whose life insurance policy has a waiver of premium rider, becomes disabled for two years, during which time the company pays over $1,500 in premiums. Joe recovers and now must A. repay all premiums paid by the company. B. repay all premiums if he wants to retain any policy cash value. C. show evidence of insurability. D. begin paying the premiums again as they become due.
D. begin paying the premiums again as they become due
if you have not met the Continuing Education requirement when it is time to renew your license, you may? A. Falsify on your renewal submission that you have completed the requirements and do so within 30 days. B. Falsify on your renewal submission that you have completed the requirements and do so within 60 days. C. Request an extension and continue to do business until your request is accepted or denied. D. Use any carryover hours left from the last license renewal.
Request an extension and continue to do business until your request is accepted or denied
In the life insurance agency relationship, what party is the principal? A. The agent B. The applicant/policyholder C. The insurance company D. The beneficiary
The insurance company
To sell a variable life insurance policy, an insurance producer must A. have a valid life insurance license. B. have a variable life and variable annuity products license. C. be registered with FINRA (the Financial Regulatory Authority). D. All of the above.
all of the available
All of the following would likely be eligible for group life insurance EXCEPT: A. all the uninsured residents of the Golden Years Nursing Home. B. all the state's public school teachers. C. employees of a nuclear power plant. D. members of a coal miner's union.
all the uninsured residents of the golden years nursing home
If the consideration clause states that the premium payment keeps the policy in force until the next premium is due plus 30 days thereafter, the policy A. is not authorized to be sold in most states. B. must be modified only by an authorized agent of the company. C. contains a grace period. D. must be approved by an officer of the company.
contains a grace period
An insured can increase the monthly benefits paid under a disability income policy by a specified percentage or in relation to an economic index with which of the following riders? A. cost of living adjustment B. future income option C. return of premium D. income replacement
cost of living adjustment
The legal doctrine that prevents one from exercising a right of privilege is called A. aleatory. B. estoppel. C. unilateral. D. waiver.
estoppel
If Louise allows her whole life policy to lapse, which nonforfeiture option should she elect to obtain the most life insurance protection? A. Cash surrender value option B. Reduced paid-up insurance option C. Guaranteed monthly income option D. Extended term option
extended term option
All Health Insurers must pay claims as prescribed by Alabama law. Which of these statements is FALSE? A. Claims must be paid within 45 days of a written receipt of a claim notice. B. Claims must be paid within 30 days of an electronic claim notice. C. If additional information is required to determine whether claim is covered, a decision must be made within 21 calendar days following receipt of the requested information. D. Insurers may decide which claim forms they will accept.
insurers may decide which claim forms they will accept
The settlement option under which the principal never decreases unless the beneficiary makes withdrawals is the A. interest only option. B. fixed period option. C. fixed amount option. D. life income option.
interest only option
Mr. and Mrs. Carter receive annuity payments. Mr. Carter dies, but Mrs. Carter continues to receive payments for the rest of her life. The Carters have a A. straight life annuity. B. refund life annuity. C. joint and survivor life annuity. D. life annuity with installments certain.
joint and survivor life annuity
The factors that determine the amount of each payment to a beneficiary under the fixed period (fixed time) option are the A. length of the fixed period and the death benefit of the policy. B. length of the fixed period and the death benefit of the policy, and the age of the beneficiary. C. length of the fixed period and the death benefit of the policy, and interest. D. length of the fixed period, the death benefit of the policy, interest, and the age of the beneficiary.
length of the fixed period and the death benefit of the policy, and interest
Which of the following most specifically describes a type of policy intended to cover extended residence in a nursing home? A. Limited policies B. Blanket policies C. Long-term care policies D. Franchise policies
long term care policies
Medical expense policies generally provide: A. only medical service benefits. B. only medical expense reimbursement benefits. C. medical service or expense reimbursement benefits. D. replacement of lost income benefits.
medical service or expense reimbursement benefits
Which of the following is CORRECT concerning the payment of commissions for insurance in Alabama? A. No insurer may pay a commission to relatives of a deceased insurance producer. B. No insurer may pay a person holding only a temporary producer license. C. An insurer who violates the Alabama rules on commission payments may be fined up to three times the amount of the commissions paid. D. An individual producer may share commissions with other persons, even if they are not licensed for the same lines of insurance.
no insurer may pay a commission to relatives of a deceased insurance producer
Insurance policies issued by companies which are owned by stockholders and do not pay policy dividends are known as A. contributory policies. B. non-contributory policies. C. participating policies. D. non-participating policies.
non-participating policie
Which of these is NOT a feature of Health Savings Accounts? A. They are funded by the employee, employer, or both. B. The accounts are used to offset high deductibles. C. The accounts earn no interest. D. The accounts roll over at year-end and are not forfeited.
the accounts earn no interest
Under a credit disability policy, what is the maximum amount payable? A. $20,000 B. The amount of the original indebtedness C. The amount of the outstanding loan balance D. A specified multiple of the monthly loan payment
the amount of the original indebtedness
If the insurance company accepts a special class risk A. it then normally writes insurance for that risk in small face amounts. B. the premium will be higher than for a normal risk. C. the premium will be lower than for a normal risk. D. the premium will be the same as for a normal risk.
the premium will be higher than for a normal risk.
Dividend options are defined as ways in which the policyowner can: A. pay taxes on insurance dividends. B. use or collect policy dividends. C. pay the loan against the policy. D. receive dividends paid on any stock held.
use or collect policy dividends.
The Alabama Life and Disability Insurance Guaranty Association covers the contractual obligations of an insolvent life and disability insurer, but its aggregate liability for CASH VALUES shall not exceed A. $50,000. B. $100,000. C. $150,000. D. $500,000.
$100,000
If an insured under a Major Medical insurance policy with a $200 deductible and an 80% coinsurance clause incurred the following covered expenses: Hospital room and board $2,000; Surgeon's fee $1,500. How much would the policy pay? A. 2,480 [2,000 - 200 + 1,500 - 200 = 3,100 x .80] B. $2,600 [2,000 + 1,500 = 3,500 x .80 = 2,800 - 200] C. $2,640 [2,000 + 1,500 = 3,500 - 200 = 3,300 x .80] D. $2,800 [2,000 + 1,500 = 3,500 x .80]
$2,640 [2,000 + 1,500 = 3,500 - 200 = 3,300 x .80]
The Accidental Death Rider pays double the face amount (or another multiple of the face) if death is caused by what? A. Accidental cause and within 90 days of the accident. B. Auto accident. C. Any cause other than sickness and/or disease. D. Any suspicious cause
Accidental cause and within 90 days of the accident.
Which of the following characteristics apply to Medicare Supplement Policies (MSPs)? A. First-time applicants (over age 65) for MSPs cannot be turned down. B. The definitions used in MSPs must be the same definitions used in Medicare. C. MSPs may not duplicate coverage provided by Medicare. D. All of the above.
All of the above
A preferred classification would most like be given to an applicant who? A. Is at the ideal weight for their height. B. Is a non-smoker, and only rarely consumes alcohol. C. Has normal blood pressure and cholesterol levels. D. Any or all of the above.
D. Any or all of the above.
COBRA and HIPAA both address portability. What is the difference between them? A. HIPAA was primarily designed to help employees who leave their job. B. COBRA was primarily designed to assist government employees. C. COBRA addresses preexisting conditions for plans with two or more employees. D. COBRA provides a coverage bridge, HIPAA addresses coverage under plans for new entrants.
D. COBRA provides a coverage bridge, HIPAA addresses coverage under plans for new entrants
Which of the following is NOT a Workers Compensation benefit? A. Medical benefits B. Disability benefits C. Rehabilitation benefits D. Extra income benefits
D. Extra income benefits
An entities chance of loss is determined by reviewing loss experience for large numbers of entities with similar risk characteristics. This predictability of loss relies upon what principle? A. Murphy's Law B. Newton's Law of Motion C. The Law of Large Numbers D. The Law of Reasonable Expectations
The Law of Large Numbers
The fact that insurance is more likely to be purchased by people who expect to experience a loss is known as A. the law of large numbers. B. estoppel. C. adverse selection. D. the risk selection process.
adverse selection
Which of the following is TRUE concerning willful violations of Alabama insurance regulations? A. Each instance of violation is considered as a separate offense. B. Each violation is punishable as a misdemeanor. C. Each violation, upon conviction, may result in both fines and hard labor. D. All of the above are correct.
all are correct
If you qualify for COBRA, coverage under the group health plan A. may be extended for up to 18 months for you and your dependents. B. may be extended for a total of 29 months if on the date coverage is terminated your or any of your dependents meet the qualifications for Social Security Disability. C. may be extended for your dependents for 36 months when they marry or reach the limiting age. D. all of the above.
all of the above
All of the following are examples of insurable interest EXCEPT: A. an airline insuring the lives of its passengers. Your Answer B. a person insuring his or her own life. C. a company insuring the life of its president. D. a parent insuring his or her child's life.
an airline insuring the lives of its passengers.
Bill's Major Medical policy is reinstated on September 10. If he is hit by a truck and hospitalized on September 15, he will receive A. full benefits. B. residual benefits. C. no benefits during the elimination period. D. no benefits.
full benefits
The life and health insurance marketing system utilizing producers that represent multiple insurance companies at the same time, are compensated on a commission basis, and own their own "book of business" is the A. independent agency system. B. general agency system. C. managerial system. D. direct response system.
independent agency system
The Convertibility Option offers what major advantage to the insured? A. Assuming the insured can pass another physical, the policy is convertible. B. Insurability is not a factor. C. The insured can convert to a cheaper coverage. D. The insured can convert from permanent to temporary coverage.
insurability is not a factor
Which of the following statements describes the aviation exclusion? A. It excludes coverage if the insured is killed while flying on any type of aircraft. B. It determines who died first if an insured and primary beneficiary are killed simultaneously in an airplane accident. C. It limits or excludes coverage when the insured is participating in only certain kinds of air travel. D. It provides double the face value of the policy to be paid if the insured is killed in any airplane accident.
it limits or excludes coverage when the insured is participating in only certain kinds of air travel
A disability income policy typically covers A. the children but not the parents. B. the parents but not the children. C. every member of the family. D. just the wage earners.
just wage earners
Why are insurance contracts said to be contracts of adhesion? A. Conditions are placed on the insurer's promise to perform. B. The values exchanged are not equal. C. Only one party makes a legally enforceable promise. D. One party writes the contract and the other party must accept or reject the contract as written.
one party writes the contract and the other party must accept or reject the contract as written
In Health Maintenance Organizations (HMOs), the use of a primary care physician or PCP is common as part of A. the group model. B. an out of network provider. C. open enrollment. D. the gatekeeper system.
out of network provider
a defined contribution plan A. guarantees a specified retirement benefit to the employee. B. promises a specified payment to the plan by the employer. Your Answer C. promises to never change the retirement payments. D. allows the employer to discriminate amongst employees.
promises a specified payment to the plan by the employer
When an insurer cedes part of an insured's coverage to another insurance company, retaining only part of the risk for itself, the insurer is engaging in A. expense loading. B. reinsurance. C. unfair discrimination. D. misrepresentation.
reinsurance
Which policy will have immediate cash? A. Decreasing term B. Single premium C. 10-pay life D. 30-pay life
single premium
Many major medical policies include a provision whereby when expenses reach a certain dollar amount, the insured no longer shares in the cost of expenses; the insurer pays 100% of remaining covered charges. This is referred to as the A. maximum benefit. B. benefit restoration. C. coinsurance percentage. D. stop-loss limit
stop-loss limit.
the kind of life insurance that acquires no cash value is A. variable life. B. whole life. C. term life. D. universal life.
term life
