Chapter 11: Illinois Laws and Rules Pertinent to Insurance EXAM
During the course of a Medicare supplement sale, T the producer determines there is an existing policy being replaced. Which of these actions is T not required to perform
Notify the replaced insurance company
J has been issued A temporary insurance producer license. How many of these licenses me Jay hold in a lifetime
One An individual applicant may not hold more than one temporary insurance producer license during his or her lifetime
The maximum time period that pre-existing conditions can be excluded in long-term care policies is
6 months
A non-disabled individual is first eligible for Medicare supplement policy at age
65
A Medicare supplement policy can be canceled by the insurer for
nonpayment
The purpose of the Minimum standards of accident and health insurance is to
Define terms, establish minimum standards for benefits, prohibit certain policy provisions and require disclosure provisions and replacement procedures
Which of the following actions is required when a producer is replacing a Medicare supplement policy
1. Applicant must be given an outline of coverage 2. applicant must sign a copy of the notice of replacement 3. applicant must be given a copy of the notice of replacement
During the course of a Medicare supplement sale, T the producer determines there is an existing policy being replaced. Which of these actions is T required to perform
1. Give the insured a written replacement notice 2. submit a written replacement notice to the replacing insurance company 3. give a list of all health policies the agent sold to applicant in the past
ABC insurer is In the process of offering health insurance coverage to a small employer. ABC must inform the small employer of all the following information
1. Provisions relating to policy renewability 2. provisions relating to pre-existing conditions 3. provisions concerning ABC's rights to change premiums
What is the minimum benefit. That must be offered by a long term care policy
12 months
Once the producers license has been revoked, The producer must wait a minimum of _ years to reapply for any insurance license
3 years
A Medicare supplement policy holder has __ days to return the policy and receive a full premium refund
30 days
A policyowner decides to cancel An insurance policy within 90 days of the issue date. As a result of this cancellation, the producer is required to refund a prorated portion of any fee charged within __ days of receiving the cancellation notice
30 days
Each long-term care policy sold in Illinois must include a free look provision that refunds all premiums within __ days of policy delivery
30 days
J purchased a Medicare supplement policy through a direct response solicitation. J is allowed at least __ days after policy delivery to return the policy and receive a full refund
30 days Is the free look period
ABC insurer is In the process of offering health insurance coverage to a small employer. ABC must inform the small employer of all the following information except
ABC's loss ratio's pertaining to the coverage
According to Illinois law, when must a producer deliver the outline of coverage to a Medicare supplement applicant
At the time of application
Evidence of coverage issued by limited health service organization (LHSO ) must include a description of the
Limited health services that the enrollee is entitled to receive
______ can be defined as "making And unfair comparison of two insurance policies"
Misrepresentation
Which of the following must be delivered with a Medicare supplement policy
Outline of coverage
Long-term care policies sold in Illinois are required to contain cost disclosure information in bold print. Where does the law require this information to be located
Outline of coverage it must appear in bold print on the cover page of the outline of coverage
Which of the following actions is not required when a producer is replacing a Medicare supplement policy
Producer must notify the Director of the replacement
Which of these Provisions is required under an individual accident and health policy
Renewal, continuation, or non-renewal provision